Same number of bathrooms and bedrooms.

Each of the 5 warehouses on this campus will require updates (construction of offices/bathrooms, roof repairs, paint, siding repairs, new penetrations for doors, updates to electrical, insulation, and extension of water and sewer). 

Finding some sort of value-add aspect or buying at a discount means you either create or walk into equity, which protects you.

It will include a compact bathroom, a tiny kitchen area, and a heater—just the essentials to make it comfortable for someone to stay in.

That was a substantial discount compared to my friends who were paying 2k+.

For example I would rather buy a property for a $100k discount that may have negative cash flow of $500/mo month for 3 years than pay market value for a property that cash flows $200/mo.

Not that I don’t enjoy dealing with tenants, maintenance, lawn care, Home Depot and Lowe’s trips and tenant change overs (I recently put new carpets, kitchen floor, appliances, vanity and mirror in the bathroom and fresh paint in my upstairs unit).

A lot of family businesses cannot stay in business upon parent death due to no longer getting the prop 13 property tax discount.  

Hence the lot on which the house resided was taxed at a 45% discount based on actual value, while the tennis lot was taxed at about 4 times what it should have been by value. 

Key updates included kitchen and bathroom remodels, new flooring, and enhancing curb appeal.