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

Although the list may seem intensive, I look at it like this: The total cost of all these items can be much lower than the cost to repair a hidden surprise after purchasing a property to flip. 

If a large repair or tax/insurance hike were to happen with a multi-unit than you at least have other units cash flowing (usually) which helps stabilize such unexpected costs. 

There were a lot of costs that we didn't expect like the plumbing had to be completely redone.

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.

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.

A nightstand or dining with 70 pieces is a major bottleneck and keeps your team from moving onto other tasks, whereas one that is already assembled might cost $50-100 more but only takes minutes to unpack. 

However, in California, each LLC incurs an $800 annual franchise tax plus gross receipts fees if revenue exceeds $250,000, and property insurance may cost more.

Cost vs.

Cost of a built in closet around $500.00.