If the background check and credit check come back clean, then I approve the tenant and walk them through setting up online payments.

If the home sells for 1.2, that puts him below the 500k capital gains tax exclusion so he walks away with a nice profit and no tax.

Have someone watch the cross walk.Neighbors- They are all businesses and closed, or the Hotel folks will walk over.If it gets too big, rent out the grass area behind you across the street.As always check zoning and covenants.Over the top????

There is a high cost to renovating a non-restaurant space into a kitchen, especially if you need everything like grills, hood vents, walk-in coolers and grease traps in floors, not to mention the utilities to service all of the above.

Were out in Manassas, great forest walks there! 

Every time I hear 1% cash flow I stab myself in the arm with a pencil - my arm looks like Swiss cheese now....hahahaSince you're in Gilbert, why not invest locally where you can walk properties and you know that area?  

Sellers did not allow us to get professionals in to give estimates for a french drain before closing (yes, our red flag we should have walked away with), but agreed to lower closing price. 

If I were you, I would be marketing the same deal to numerous buyers in case the first one walked and you're on a timeline for wholesaling it.

If that's not what your desired outcome is, do not get suckered into doing the FHA streamline refi.So at the end of the day, you have options, but if your goal is to buy another property, it's best to walk through all your options with a loan officer who specializes in working with investors and these exact scenarios, and map out a gameplan not only for your current property and next property, but getting to property 3,4,5 etc so that you don't get stuck on your journey.Hope that helps and best of luck!

The seasoning issue is when you want to walk away with cash.