You may borrow an additional $35000 for hard cost improvements.

Let the agent know that while you’re interested, the property’s condition and local comps don’t justify the asking price.Taking a warm, conversational approach can make negotiations smoother and improve your chances of getting the deal.

Looking to improve my investment skills, I decided to get my residential home inspection license which led to me starting HLC Home Inspections.

As I said earlier, this is strictly for investment purposes.The property does not have to be turnkey, if there is room for improvement that's of no concern as we both have the skill set to invest in whatever upgrades are required.

Once the construction of the business building was far enough along (but no more than 180 days) that the price of the land and the amount of improvements you make on it are equal to the sale of your old investment property you take title to it and that would complete your 1031 exchange. 

My question is why you want to bring it up to code, other than just to feel good or improve your exit strategy?

Everyone thinks they can paint but there's a big difference between a professional paint job and a non-professional one (the latter usually actually damages the property instead of improving it). 

And sometimes, we are not materially improving what you could have done  yourself. 

Strive for constant improvement, adapt to market changes, and continuously learn and develop your skills.

I also found that being at "market" rents it takes longer to rent therefore missing out on a month or two of income negating the ROI on improvements.