Each and every area might need a fresh look and improvement.

Updates include new upstairs flooring, kitchen counters/sink, bathroom vanities/toilets, and fresh paint.

Exterior:Applied fresh paint.Replaced siding due to wood rot.Interior:Installed new ceramic tile flooring.Added new kitchen cabinets and granite countertops.Updated the bathroom with a new vanity featuring granite counters.Refinished the existing tub and tile surround.

They didn’t seem too excited about paying all that, but my duplex is very nice and I just repainted and laid fresh carpeting (I know, I know....LVP and all that.

I intercept these freshly motivated sellers into my funnel because I know how they will behave when they become motivated.

Updates include new upstairs flooring, kitchen counters/sink, bathroom vanities/toilets, and fresh paint.

Is the percentage rent from restaurant sales baked into the income that makes the cap rate look more attractive but isn't actually stable, secure income over the long term?

The loan caps vary across lenders, across experience buckets, across asset valuations but 70% - 75% is standard.9mo note at 12.99 i/o - Most say "12" months and then bake in a fee if it goes longer than 9 months.  12.99 is high. 

You get a ton of fresh food and it's very relaxing to see the results each day.

Personally, I would give them notice of termination and start fresh with a new renter that I've personally selected, using my lease, at my rent rate.