Again, the BiggerPockets store has some books on this topic, or you can learn about it by watching podcasts, reading blogs, and interacting on the forum.

Washington was the operating partner, with the land being developed for small farms, houses, grain silos, tanneries, barrel manufacturing facilities, churches, stores, etc. 

When we were done at the notary and finished the purchase, we were able to obtain the license and start the works (it was a big commercial old furniture shop where we created 14 tourist apartments). 

Partially because you did not rent it for an entire year but mostly because of upfront expenses: getting it ready for rent, buying furniture, electronics, and other furnishings, stocking up on initial supplies, and so on.

After the first book was published, he went on tour to book stores and other locations promoting his book. 

My grandmother lived there for many years when I was growing up (I always think of the massive shark head store there), but I don’t think even she would have predicted how much it would rise.

You usually do not find laundry mats, check cashing places, or liquor stores in an A or even B area.

Prioritize cleanliness, appealing furniture and decor, being pet friendly, appealing to your market, professional photography, great customer service, and great reviews.

They may want to buy the furniture or include some of it in the deal. 

For hardwood, that will take much longer and I'd bet they'd walk on it or move heavy furniture before the top coat is cured and damage it.