Hey @Matt Smith 👋🏽I agree that it's not worth renovating the basement - too costly.

At least his apathy only costed you $1500 and indigestion. 

By year three, I aim to cover all operating costs and, by year four, to generate positive cash flow.Experienced investors say it’s crucial to persevere through the initial challenges while gradually building credibility through positive reviews, and I believe them.

It's probably best to have them pay out of pocket for a smaller cost like this.

Here is an example of what it costs you to avoid professional advice.

One of the things I'm trying to figure out is if I'm better off getting a few lower cost properties or on higher priced property. 

Quote from @Jeff Sanders: Personally coming from an agent/investor in CA, I always get a quote from a broker of mine and make sure I am knowledgeable with the fees/costs.

Definitely a strong location with great visibility and high foot traffic.Since it’s a NNN,  your expenses are minimal, but if LazyDog ever exits, buildout costs will depend on lease terms and the next tenant.

Even with renovation costs and insurance costs the fix n flips are still making money.  

I'm looking at monthly cost to seller vs. anticipated rental income, purchase price relevant to the ARV of the area and interest rate, balloon, etc.