I work as a physical therapist doing home health so I set my own schedule and have plenty of free time to manage projects or contractors.

The assumption this rests on is that swinging a hammer and actual physical labor is beneath an investor (at least that's the way it hits me).

{If you are operating as an incorporated entity (not an LLC), this would, of course, be different as you would be paying many of your expenses with before tax dollars}.

Just the physical state of the house?

Or maybe split the space to incorporate a sitting room, his & hers closets, or area for the Mrs to sit and put on make-up/get ready.I'd the make the upstairs bath a full jack & jill.Main floor, there seems to be a huge open area to the right of the dining room.

I have familiar with how to do this on the entire property, but am not really sure what adjustments I need to make if it is just one suite.Some info:Building: 12,138sfSuite to lease: 2,366sfRate: $14.5Term: 3 yearsBuild out/commission to be paid in year 1My question to be answered is how do I incorporate the operating expenses, debt service, and mortgage for the entire building with the benefit of leasing only a portion of the suite.Would appreciate any help!

You can then incorporate these factors into a sensitivity analysis, which will show you all the possibilities (the good, the bad, and ugly) that various combinations of these factors can yield.

What kind of things should I look for to make sure the property is physically up to snuff, or things I can point out as potential improvements that can help reduce the price, etc?

I work in corporate America and make decent money but I would like to purchase an investment property with the help of outside financing.Would it be beneficial to create a business entity to protect myself or should I wait until I have a few investment properties first and just practice creative financing in the meantime.

Generally I take the physical paper copy.