.: Hello, I have been seeing increasing opportunities recently to bid on non performing notes on commercial properties that banks are trying to offload.These notes usually have the following characteristics:The note has reached maturity several months ago.

If not feasible, consider increasing rent, reducing purchase price, incorporating future benefits, or targeting multifamily properties.

That being said, here’s what I would recommend for a thorough DD process:-Build a plan in advance (setup a spreadsheet, meet with the team, etc)-be prepared to take a lot of pictures -document notes with each room (we use notes on Apple and share it with the team)-align the team on standardizing information (example: what does “bad” mean, what does “okay” mean, etc - everyone looks at things differently and you want to make sure the notes are accurate during your debrief)-bring in professionals for things you can see, like sewer lines hope this short list helps! 

Keeping it as one big space may set it apart from standard storage units, but you could also test demand with dividers for varied price points.

I will be increasing my savings amount to reflect as well.

Those that respond “$0” or something ridiculous, you can request income documentation from them to justify.Don’t be afraid to share with them how much your property taxes & Insurance increased and that YOU cannot afford to absorb them.ALWAYS get an increase or something of value annually when rents are increasing or tenants will start thinking they should never have an increase, making future increases that much more difficult to negotiate.

I generally avoid wholesalers because my experience has been that they are unwilling to use a standard purchase agreement that is fair to both the buyer and seller and they do 'shady' stuff.

Increase supply (or at least encourage development), and the prices will eventually come down (as we've seen in other large cities like Austin where the demand boom was followed by a supply boom - and now both sale prices and rents have gone down). 

Is there a standard amount or is it tailored to the project ?    

I'm working to pay off my rentals which will dramatically increase my cashflow in a faster time.