Due to the size of these stores it makes it very difficult to rent these locations and in most centers you have to divide the space which requires significant modifications to hvac, electrical, plumbing and storefronts.While this doesn’t answer the questions gives things to consider if buying one.

Maintenance guy has his electrical license and plumbing license.

Energy tax incentives were expanded and extended through 2032.Be sure to keep an eye out for any changes to 1031 exchanges and capital gains tax rates.Buy, Borrow, and Die StrategyA great estate planning strategy for transferring wealth and minimizing taxes is the Buy, Borrow and Die Strategy.Buy: Purchase multi-family properties that are appreciating in value.Borrow: Use HELOCs or cash out refinancing to pull equity out of the property as it appreciates.

You will have to spend considerable time and energy getting familiar with a new market whereas if you stick with the original one you appear to have enough capital to get started right away on a new building.

The issue with doing this method is it takes more money up front for the renovations, you are buying older properties which may have more needed capital expenditures, and it takes more time and energy.

Land banking in the path of renewable energy projects could definitely pay off, especially if you choose parcels with the right zoning and infrastructure in place.While my focus has been more on the East Coast, I’d love to hear how things are shaping up in Kern County.

(Note: These are non-negotiable requirements) Other Incentive ProgramsSmall Business Improvement Fund: Best thought of as a storefront/small business rehabilitation program, this small grant program ($150,000 for commercial properties and $250,000 for industrial properties) is targeted for smaller renovation projects and can cover anywhere from 30-90% of the cost of remodeling a storefront facade, roof replacement, major systems replacements (HVAC, plumbing, electrical, etc.) or an individual interior space build-out within a larger building to get it tenant ready.

There isn't a lease on the property yet but I'm sure there would be quickly because everything is new including all new plumbing, electrical and HVAC.

This strategy comes with some more risk & involvement, but can be a creative way in the TK space to scale quicker.Ultimately I think it comes down to being honest about the level of time, risk, energy/stress & capital you want to invest & then determine which direction to invest in based on that criteria.

Labor costs are 20-30% higher than my core market in Denver, which was very surprising to me, which makes finding a PM that has in house maintenance, electrical, plumbing, HVAC very valuable.