.### Renovation PlanningDevelop a detailed renovation plan to maximize the property's value.

Therefore if you purchase in say September, your current years tax bill will be based on the current years value which may be even lower than what you can achieve with the exemption and on investments the value will be updated according to your ATI and will not be reassessed by the county for five years as well as once it is, the increase is capped to a 15% increase in value which is not common and can be appealed which is less often than many other states.Yes, the effective tax rate comes out to a difference of say 0.5% on personal residence to 3.0% on investments, but I would say handling it the right way up front and budgeting for it in your analysis is better than risking it another way.

Demand, quality of tenants, etc.According to my analysis should give a 12% CoC return but this is my first commercial property purchase just like some insight or if I should pursue other forms of commercial real estate. 

Rather, we use a 2-point bump in our exit cap rate with realistic/conservative rent appreciation and occupancy based upon both our internal projections and a thorough market analysis.

Happy to serve as a resource for any questions you may have about the area.Also, like @Karen Wanamarta mentioned, it’d be awesome for forum members looking to help if you could share a few details about the strategies or asset classes you’re looking into.

I have not pulled the trigger yet on a second property due to risk averseness, lack of capital and analysis paralysis.

so the city say that it doesn't have to be by an architect but needs to be professionally drawn with as mush details as possible

I think it might help some seasoned landlords answer your question if you share details about your rental like bed/bath count and sq ft.

Is there any details I am missing her that would she some more color into the length of the situation?

Far too many get stuck in the "paralysis by analysis" stage, thinking they just don't know enough to get started.