Currently the facility's numbers aren't beefed up to command the price the owner believes he should get in addition to how commercial property is priced.

Initially whatever I can get (i've no idea what's good - but this building has had nearly CONSTANT occupancy for the last 5 yrs http://gg.gg/437wp )I know that buying in smaller towns is the risk (and in that case, I'd want to buy with massive foot traffic, road traffic, and a key 'known' building.BTW, how do I do the @ command to MENTION your name, @Percy ?

Even the REO's and short sales are commanding high prices.  

My rentals outside Marion county are commanding higher rent.  

We do intend to make significant renovations inside of the properties while occupying them since we plan to purchase discounted duplexes in the nicer area of downtown and can command higher future rents/appraisal with high quality finishes (how much we update will depend on the point of diminishing returns in terms of rent and property valuation).  

If you want, you can add back in any principal payments, although they are syill out of pocket expenses.Remember, the previous landlord wants to make the property look better than it is, as the ROI numbers look better and it will command a higher price.  

This may affect your decision if you plan to sell the property after a few years of renting it.Consider the Market and Rental Readiness: If the market is currently favorable for renters and your property needs minor repairs to be rental-ready, it might make financial sense to do those repairs now rather than waiting, especially if you can command higher rent.

I have sat in an HOA meeting where I commanded 14 votes, in a room of 20 HOA members.

What matters is what is the housing preference in your market and at what price does it command. 

What your inferring is that you have full commanding capacity to build "to code" via persons happy to work in violation of building code.