Thank you, but one more question I was wondering what capital expenditures include and how it is separate from maintenance repairsthanks againCapex is like the big-ticket stuff - think roof replacements or major system upgrades that improve the property's overall value and longevity.

Revenue goes thru the roof when you parse it up like that. 

The more tenants under the same roof the better if you are the land lord!

Then, the permits taking longer than expected, the repairs budget going to the roof, getting new GCs, the property taxes increase, using the wrong debt and investing alone.

I use Google earth to get an idea of roof tops, and can pin them up for a "hit list" type visual aide. 

Highly recommend getting additional inspections (termite/mold/foundation/roof) if needed to assess the condition. 

A NN lease roof an structure in a cold belt state landlord obligations can be way different for a landlord than a NN in a warm belt state where you typically are not encountering lots of snow, ice, etc. that wears down roof and parking lot faster.

Most of our tenants are reasonable folks, and the buildings in A and B level communities have mostly routine issues (leaky drains, roofs, etc). 

The issue is the property needs a good bit of work and I dont have the capital to do the repairs, like a roof replacement.

Granted, we err on the side of doing things right the first time, but projects like new roof or new windows cost a lot and don't have that much impact on the appraisal, as long as the existing components are still in acceptable condition.