@Jacob Ferguson ask your lender about the Loans for Alteration and RepairPURPOSE: This circular replaces Chapter 7, Topic 4, Loans for Alteration and Repair, in the Department of Veterans Affairs (VA) Lender's Handbook, 26-7.

This in turn, translates into a $6,000-$7,000/year in negative cashflow that could last for 3-4 years.

If there’s others outside of this time then let me know so I can alter my plans.

That lack of responsible control over the budget can lead to HOA shortages that translate into "surprise!"

I know it can be done because I've sat on google translate to annotate German tax returns into English, along with past-dated USD currency conversions to get a loan through, but yeah this is one where you need to shop primarily the competence of the lender, and shop it hard.

It's the Rhode Island Landlord Tenant Handbook and it's been around for 15+ years now (last updated in 2007 I think).I'd say it's required reading, and should be read before you read other, more generic (non-RI-specific) books on the subject, just to set the context and obligations framework in your mind properly.Note that the RI LTH is more or less a layman's translation of the RI Residential Landlord and Tenant Act (i.e., RI General Laws Chapter 34-18) which is the body of RI landlord-tenant laws covering things like security deposits, evictions, required notices & timelines, default rental terms (in the absence of a lease - not recommended), etc.So if you think the RI Landlord Tenant Handbook is dry, compare it to the source material (the laws) and you'll go back and think it's just fine and dandy :)Good luck and you can post any questions you have here on BP of course!

However, ASKING does not necessary translate to actual rent, nor does it give you the expected vacancy period.  

It makes me see how you've done it and it translates well to me, learning wise.

I'm not taking my proeprty off the market for 30 or 45 days, maybe longer as it may require to be extended, to some guy who drives up in a 95 Ford who claims to be some real estate investor (translation, some jobless guy who probably has questionablle credit and no money).If the seller has tried to sell for 286 days and no hits, another 30 days probably will not be a problem, so a motivated seller might look at anything.

.  --   3780 sq ft 2 story office building (office was previous use)--  Built appx 1900 -- think it's brick, or block with some sort of facade, possibly limestone as that is common in the area -- has a basement as well with partial crawl space -- good soil in the area--  Appears to be structurally sound - no issues - however needs further investigation, the floor joists are likely large old world pine/oak or other hardwoods shipped in so they should be good as long as no previous termite damage/dry rot--   Basement professionally waterproofed 15 years ago - should be no water issues, we've had lots of rain locally (more than we've had in likely 10-15 years) and basement supposedly has not leaked, think it's limestone/concrete -- Building also surrounded by Concrete -- water should not be an issue-- Per agent this week there will be a new roof put on (Flat Roof) at a cost of $17k-- Asking price $60k-- Has been occupied by an accounting firm for I believe 40-50 years - they owned the building and have left as they merged with another local accounting firm and moved to another building-- Dated inside -- lots of paneling, probably dim lighting, HVAC is kind of dated****************************Potential Downsides/Other Pertinent info-- Likely will have low or nearly non existent price appreciation, other than upgrades I'd put in -- I probably wouldnt factor it in any of my figures-- Lots of ranching/agricultural, oil/gas, wind energy activity around - city has the closest major grocery store/Wal Mart to lots of people located in more rural areas within a 1-2hour driving distance -- town is important for that aspect-- Located in a small community - town has appx 12-15k people, however it is a bedroom community located off of a VERY well maintained interstate and it's only 20-30 mins drive from the City I live in that has 500k people --   The city is a good "Clean" town if that makes sense, very nice community gym close by-- Building is on the downtown core - right off of one main arterial and 1 block from the other -- no plans in the future to alter traffic flow etc --- Lots of money has been put in by the city/local govt to maintain the downtown area and make it a very nice walkable area - with lots of little shops, antique places, a couple cafes etc -- A local company in the refining business recently moved the majority of their business there from Wichita and has put a lot of money into this community -- large donations to the college and elsewhere (they make additives and are a nationally known brand -- have been around since the 70's - only way they go down is if we go away from the internal combustion engine - dont see that happening in the time I'd own the building)