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.

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?  

Were out in Manassas, great forest walks there! 

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!

In not they will know they can walk all over you and do whatever they want.

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

We are pursuing a house hack (fixer upper) and turning the basement into an ADU which we rent on Airbnb.I had a theory that Airbnbs that performed needed to be walking distance to a metro.

I think upwards of 40% depending on variables that a CPA can walk you through.