There in the kitchen, garbage, bathroom, in the bed rooms a little bit, and even in the refrigerator. 

Before you go forward, you may want to line up your financing.

In other words, a commercial line of credit on the whole value of the property.I've got my eye on a 12-unit complex for sale for just under $500K. 

Every little bit of feedback narrows things down for me, or makes me think.Well, I was thinking more in the lines of a Medical Supply / Senior supply store,  rather than Adult day care.

Has anybody ever heard of a strategy along the lines of:1: Showing homes in need of repair to potential home buyers2: Have the potential homebuyers tell you what kind of renovations they would want in the house3: Get a contract between you and potential buyers for you to buy the house yourself, do the renovations and then sell the house to the buyers after all renovations are finished.Essentially instead of the homebuyer buying it and then worrying about doing all the renovations themselves after it has already been bought, they can pay somebody else to renovate it before they put money into it then buy it after it is finished.

I think I heard on one of the podcasts or read in an article that there are lenders out there that will do a home equity loan/line of credit based on the APPRAISED value of the home.

@Wave Taylor I would suggest speaking more frequently with the brokers on the deal to ensure that your bid is in line with others that they are receiving.

Now if you have a million or two in cash, and an other couple million or more in properties, then yeah, set up some LLC's.Have you thought about possibly just getting the loan in your name, live in it, and a few years down the line when you have moved out, there is a little equity just doing a quit claim deed to put it into your LLC? 

Also check to ensure your ground/bonding is to code if any CSST is or has been used.If you go with electric stoves I prefer 6/3ga vs 8/3ga, but running & stapling a 6ga line will be quite a feat esp if you need to find room in an old crowded breaker panel for a doubled poled 240v 40-50amp breaker. 

One of the shortcomings I have experienced is that even though many talks about the BRRR strategy here, but it is difficult to execute if you don't have a good team line up since you are just starting out.