And as you proceed, you'll adjust your risk appetite based off your income, experiences, regulation, etc.

As I get older my appetite for risk gets less and less and I don’t need roller coaster rides I like the merry go round

This warehouse was racked high for beverage distributor and my client is storing electronics in the same space but is required to improve current fire suppression system before occupying the space.

Depends on your appetite for debt and desire to build wealth. 

Imagine comparing a tiny gecko to a giant Komodo dragon – both reptiles, but with vastly different appetites!

Just be sure to check with your county zoning board regarding any additional requirements when increasing the number of beds.For example, you may be required to install a commercial fire suppression system, or you may have to adhere to Americans with Disabilities Act (ADA) standards, which might involve widening all doorways for wheelchair access and providing ramps at all entrances and exits.These costs could easily blow your rehab budget.Also, whatever guidance you get from the county, I'd make sure it was in writing, to prevent misunderstandings in the future!

Find one with an underlayer attached, and if noise is an issue put a sound suppression pad underneath.

Millions upon millions of jobs lost "forever" ("exported" to the "third world"), more millions lost half or more of their retirement accounts, creditors slashed and burned consumer credit to the point where, by the banksters' own numbers, some 74% of Americans wound up with "bad" credit (it was only 47% before they did that), ...Now, add in the knee-jerk responses in the lending industry and you've got a situation where only the elite of formerly middle-class wage earners can even hope to qualify for new home loans.In fact, the given the current housing shortage (yet more fallout from the crash), it is ONLY the dearth of lending which is keeping home prices from launching into interstellar space by suppressing demand.

I have a healthy appetite for risk, but I calculate risk into every target I have at the auctions and its my conclusion that I'm more conservative than most investors.

Ads on craigslist to test the waters/appetite.