While it takes a few months to get the pipeline flowing, you can make a healthy amount without experience or expenditures.

The belive that they would prefer to not have to fund a $2MM capital expenditure if they can avoid it; but they would also prefer if they didn't have to fund the entire amount of their remodel.What I'm asking is: has anyone been faced with a similar situation where the anchor tenant has requested contribution to their remodeling expense? 

Any advice would be appreciated and thoughts on what I am missing, capital expenditures, etc..

Keeping in mind, once I own it my expenditures will be under 1k so I will be able to save about 1,000 a month after purchase to put toward repairs.Natalie

Given all that there is a very good chance you will be negative for the year and we haven't even touched putting away money for capital expenditures.

Do you want to own C or D properties, which are less expensive up front but may require more upkeep expenditures?

I have not gone through my notes and photographs to start deciding what must be fixed immediately and what the costs will be but I am guessing that my initial estimate of $5,000 immediate expenditure is low by 100% to 200%. 

You may be confusing an irrevocable trust with an irrevocable burial reserve.

Don't rush into depreciating expenditures.

Are you setting aside approximately 10% for maintenance, capital expenditures, and other projected needs?