However, if the property is tenant-occupied, accessing it for renovations might prove difficult.If your intention is to purchase a distressed property for value addition, I would caution against acquiring properties with existing tenants, as this can pose challenges in the renovation process.

So 1800 accountants filed the client as an S corp- and an S corp doesn't exist.

@Henry Clark @Rebecca GrazianoThere's a lot of different ways to source self storage - I think first you have to decide development vs buying an existing facility (an existing facility doesn't necessarily need to be a storage facility).

This might affect your equity position and future refinancing options.Subject To Financing: Taking over the existing $325k mortgage is a common strategy, but make sure to thoroughly review the terms of the existing mortgage.

I tossed LEED in favor of Energy Star as it seems easier to achieve. Anyone with experience with this during the architectual drawing and design phase of the build? 

I do appreciate that every REI property is different and have used many of the existing calculators to do the math, including Rent to Retirement (leaning towards using them) and that it is not easy to get instant thousands per month in cash flow.

Unless your existing cabinets are in phenomenal shape, you can likely get a nice rent pop in Pilsen for the new factor alone. 

.- SubTo  - Take over the payments of existing loan with lower interest rates.

There is less risk of amoeba with cooler waters and often enough wind to windsurf on the lake in the winter.  

Hi Alex,So I did a new construction in the city of Los Angeles where I did a complete raze (teardown) of an existing structure and built a brand new one.