We have kept up on maintenance and we just renovated the lower level and upgraded the plumbing so we do not anticipate too many issues, but you never know what tomorrow brings when you have a 60 year old house!

Are the anticipated upgrades counted as 'renovation' costs in my calculator, thus the property still cash flows, but the COCR takes a hit, or2.)

Plans to were announced last month to invest $2B into the cities airport in anticipation of the population/business travel growth. 

They noted, while they can technically go to 75%, in recent deals, they are closer to 65% due to DSCR covenants.And maybe this is expected, but I would anticipate having a personal guarantee, fully-recourse loan for retail.  

However, if you slowly adjust pricing in anticipation of a surge in demand you will experience greater returns.

I anticipate costs will be around 200k.

I have not done too many deals in your market, and I anticipate things are nuanced depending on the property type and condition and based on the personality of the owner....BUT it is common and customary in my world, which is usually retail/med office, for tenants to have at least some time of free rent during the buildout.We usually structure things as follows, and you can change the number of days around but this is traditionally what we at least shoot for when we have a tenant we are repping.- Lease commencement date is to be the 6/1/24 or when the landlord's work is complete. and we traditionally have penalties in place if the LL's work takes too long and pushes us past our initial timeline.- then we typically have "rent commencement" or when you start paying rent, to be the earlier of either 180 days following lease commencement or when you are open for business.  

Again, be careful about purchasing a STR property in Wilmington with the anticipation that the rules have been stricken.

These rents are still below what was anticipated, but much better than Douglas was doing.

These challenges resulted in higher-than-anticipated tenant turnover and increased maintenance costs for many properties, including those in our investors portfolio as well as our personal portfolio.