I can imagine it is considerably more work as well as I plan to manage myself.

I recommend reading the book traction and following EOS - they have a one page business plan that is awesome to follow. any planner can work it's a matter of creating the plan and how to monitor and follow through with it which eos teaches

@Jimmy Rojas, a few things to consider with your plan:1.

When we create our business plan, we also include our exit plan.We'll only proceed if we can clean this up, acquire new tenants at higher rents so we can increase our NOI, which in turn should reflect our cap rate and profits.Since this asset class is new to us we will tread cautiously.Scheduled to preview tomorrow. 

We would be paid an hourly rate and whatever we  spend/accumulate; the friend would get the cash rent until the differance is paid. 

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

Lesson two: The Polytech area has a lot of potential but requires careful planning for the scope of work.

Lesson two: The Polytech area has a lot of potential but requires careful planning for the scope of work.

Focus on what the rents will look like post-renovation with 4 units instead of 2, and have a clear game plan for refinancing to pull your capital back out. 

I'm an engineering student planning to start a business after graduation.