Each of the 5 warehouses on this campus will require updates (construction of offices/bathrooms, roof repairs, paint, siding repairs, new penetrations for doors, updates to electrical, insulation, and extension of water and sewer). 

Great community to bounce ideas off of as I build my knowledge base.  

This is subjective to anyone in real estate with the knowledge of property classes.  

Many assumptions were made as to my knowledge, part due to my "rookie status" on the thread and part in that being the first deal being made. 

It's not that Stu has tried and failed with this asset class, but he is pointing out that you have very preliminary understanding of investment principles and should look to expand your knowledge before being accountable for OPM. the fact that you're confusing mortgage payments with T&I impound is indicative.

Or put in your interest rate here, and your loan balance there.The art is where I think most people struggle, and I don't think this can really be done without real world knowledge.  

For this reason, I find it surprising that you would question my knowledge of the region without knowing me.

Since I am out of state I rely heavily on trustworthy & knowledgable input.

@Kyle Trotman If you purchased with a hard money loan conventional lenders will require extensive seasoning to utilize the new appraised value for cash out. 

I try to evaluate a unique property 2-3 different ways, then make a highly educated guess based on my knowledge of the market.