I have reviewed the lease and am following the proper procedure for requesting repairs.

Make sure you are following the proper procedures that are outlined by state law and make sure you aren't violating their current lease.

I've tried to mention the most common things, but you have to talk to a local person with knowledge of procedures and traditons in the county you chose to "chase fireflies" in.

Quickly establish WRITTEN policies and procedures to ensure consistent service for every client or customer.

How high you can go up on such a small size parcel can make a big difference in returns.If the buildings are old the procedure to tear them down could get expensive.Also tenants on current leases the disruption to their businesses would likely need to do in stages more (start and stopping) with development and meanwhile labor and material costs can go up.

@Elijah Glenn, it never impresses me when I see pro forma figures that have been massaged in order to arrive at a pre-determined outcome.

@Ron Fletcher I work with investors in Chicago that invest in properties this way, but I should preface that our procedures are governed by Illinois laws and Chicago laws so youf area may be different and you should consult with local counsel.

Scary as hell because I also work full time.It was overwhelming at first but I broke it down day by day and start building my procedures and questions to ask.

My favorite $25/hr massage place is that one on the corner of Tapo and almost the 118 and my friend who's house I'm at all the time is just a couple miles past that.The answer to your question should be fairly black and white-- just run the numbers.

The more you learn about closing costs and procedures, the more time and money you will save in the long run.