Especially with high interest rates Hey Olu, It's definately hard to make properties pencil from day 1 but my reccomendation would be to practice practive practice underwriting deals to know a deal when you find one.

That way they can better control deal flow, and also can convert more of those leads to a profit.  

What are the pros and Cons of buying Residential and Commercial Properties in Georgia? Can you share your views on this?

Any advice or tips on taking over a lease would be greatly appreciated - specifically around questions to ask before close, mistakes, and best practices.

in particular make sure you know the value that will be added by the ADU and that in your case both units may be rent controlled (no 15 year exemption in some jurisdictions for a garage conversion were garage is over 15 years old.  

It can boil down to human error and things we can control, but sometimes it is just an issue out of everyone's control. 

We are considering developing it into a multi floor climate controlled self storage facility. 

At least, find out who the company is and have them send over the bids to you so the company can't mark up.I also want control of the bank account, in my name.Gino

This strategy can help reduce utility expenses.Mid-term and short-term rentals can have utility costs up to 10% of gross income, including electricity, water, gas, cable, lawn care, and pest control.

When I'm practicing underwriting, I'm finding a property that looks interesting, trying to find out median rates in the area and do some math to get to the NOI then divide by 6% and come up with some sort of value.