Just an observation on the east side of Florida Miami F.L.

(That's an observation, not a judgment.

My observations would be the purchase price is too high the debt service is killing the potential of this deal.

@Brian Johnson,Most states have a real estate commission which has the legal requirements posted.If you're in Lexington:http://krec.ky.gov/Pages/default.aspxI just find that what is legal and what I'm observing in practice here in my hometown is not consistent.

Observe and listen attentively.

for me, i have only so far verified the contractor is indeed a license contractor and that the contract they sign states they have their own insurance for all the work they will be doing on my property.for me, when/if i'm a contractor (application pending qualifier), wouldnt  because of the observations already made- over liability

This falls into place with my observations that commercial lending south of the 48th has more similarity to here than one finds with residential lending.We already play in that space.  

I also agree having a witness there with you to ONLY observe.  

This will give me a taste of higher margins along with higher turnover and allow me to observe the differences in tenant quality etc.  

I intend for my comments to be thoughtful and courteous, although they will admittedly be biased towards what I believe and have found to be true.I appreciate others like you rounding out the dialogue with insights and observations that I don't have.