Do you invest locally in Tampa Bay or out of state? 

I saw a notice on the door from the city and I tried to get some info on the owner but it looks like an investment company has owned it for several years but no one has been in there.

You spend a lot of time and money having people do this work, and at the end of the day you don't net any more income compared to a long term rental.

Congratulations on your new investment property.Cheers! 

Investment Info:Industrial commercial investment investment.

The price-to-rent ratios are generally unfavorable, and a shortage of skilled tradespeople and reliable property management can hinder the success of buy-and-hold rental investments.

It's at this point many exit the real estate investing business. 

Quote from @Robin Cornacchio: Can you use a 1031 exchange on a SDIRA owned investment property? 

Let's say you split the cost of furniture over a 12 month period amortization rate.Furniture costs: $583Rent $1500Utilities $150Total Cost = $2233After vacancy costs, your monthly rental revenue is actually only $2240 Formula for vacancy (2800*12)*.80You're not making money. 

Hi @Chris EhrhartThere are two prices in a negotiation, one is the offer counting multiple factors, mainly Cap rate and visible repairs when is a investment property.The other one is when you do an inspection.You listed 5 items here so I'll comment on each one:- Electric panels, this is likely to be found during inspection.