As for the construction of the park, the plans will be put out for bid as a negotiated job upon completion, and we will be using a third party, general contractor to perform the work.

We put them to the test with an office warehouse 3 building 40,000 sq ft syndication 2 years ago and they performed as they stated.When utilizing local lenders who keep the loan in their portfolio, you CAN negotiate on rate BUT I find it much better to pay 1/4 to 1/2 point above the absolute minimum and obtain these other advantages instead.  

>Seems to me that at scale, a portfolio like Luka's would indeed build wealth over timeIt is cash flow negative in a market that has an appreciation rate (2.17%) for this century below the inflation rate.https://www.neighborhoodscout.com/oh/cleveland/real-estatehere are some thoughts about your plan: - why perform a value add in a market where the value add does not add much value especially if the property will be acquired at no cost?  

My thought ahead of time was similar to you “I want to try these” - thinking I could self install islands of carpet in bedrooms myself and have the ability to patch if needed between tenants.

If they demand better performance, let them hire an A/C technician on their own dime and get a professional opinion, or they can terminate their lease early and move somewhere else.

It depends on: (like you eluded to) whether you are buying 1sts or 2nds, whether you want NPLs or performing notes, whether you want the property, whether you buy CFDs, whether you can wait 18 months for a foreclosure, etc.

Repairs vs. capital expenditures.Find out how long the provider has been doing cost segregation studies and how many they have performed.

did they have you fill out a notarized affidavit that said you were self performing the work?

Then you would run a new conduit to the new heating units.Then patch drywall, and repaint. 

Any suggestions on the best way to value it.We sold a portfolio of properties to a single buyer, all notes are performing.