@Julie Hill your goal is admirable but practically undoable (I am assuming you don't have the capital to out right purchase those properties).

Tenant Improvement Allowance (TIA) which can be $10-$30/foot upon signing a lease, brokers fees another 6%, a failed business goes bankrupt and leaves you vacant and after 6 months you find a tenant but guess what, there's more TIA and more brokers fees.I kind of see commercial properties as a giant furnace of money.

But I don't practice law in this area so I would suggest you talk to someone more knowledgeable.

Fannie/Freddie both have the 6 months of seasoning before you can use the improved value. 

They practically felt indignant for being asked for another discount after first giving me a large discount to the original asking price.

Hi,I bought a house 3 years ago and made lots of improvements.

Since it's a vacation rental, I am able to improve it in between bookings. 

Being open for feedback is what helps investors (everyone really) learn and improve.

A $300K property will have “improvements” to depreciate and he will have mortgage interest.

It's also good practice to learn to say no to 'good deals' when they don't actually line up with your goals, even if the price is right.