If you get a property that has all new mechanicals, fully updated units, get it all done in a timely fashion, and still leave 25% in the deal you are WAY ahead of the game, due to the fact that you have front loaded risk and updated your mechanicals. 

The front part of the property is a house, while the daycare operates in the back.The woman currently leases the daycare space and wants to stay, but the seller is looking to offload the property because he doesn’t want to handle the updates or renovations it needs, which are significant.

I will be updating them as I go along but it's just a rough idea of how the property cash flows

Hello , l am just starting to rent a property out to section 8  tenant , what are the things to do to minimize/prevent  section 8/regular  tenants  from messing up the rented property .

A modern, updated kitchen is a major selling point for buyers and can significantly increase the property's value.

Also means no regular heat source.We always leave the cabin with a good wood supply in the winter, fire starters, lighters and such to ensure they will have a heat source.  

Know the house and the finishes, if its out date stage it to look modern or make some renderings of the updates.

will update Lessons learned?

Cap rate is one metric and it's like using your weight to determine your fitness level. 300lb NFL linemen are faster runners than a 200lb McDonald's regular. 

Facts and Circumstances Test: Based on all of the facts and circumstances, the individual participates in the activity on a regular, continuous, and substantial basis during the tax year.