I'm not looking for a critique on the numbers, this is a very random scenario so I can get more comfortable with running numbers correctly and being confident I can BRRRR out, or atleast know what the value will be worth after renovations.

I'm not looking for a critique on the numbers, this is a very random scenario so I can get more comfortable with running numbers correctly and being confident I can BRRRR out, or atleast know what the value will be worth after renovations.

I don’t have a ton of data either but I feel comfortable saying that the majority of my guests in the last 10 months haven’t even been military.  

See if the store is comfortable with goods outside on display for sale (to be brought into the store to pay for).Try to stay long enough to get a good feel for the customer base--because they will probably be reflective of your own if you buy there.Are you comfortable sitting in the parking lot at night, unarmed, or do you wish Dirty Harry was sitting next you for protection?

🔐Paul Moore was in your shoes, and found his niche in self storage!

I guess I’m putting myself in their shoes and knowing that I would want it but again per @Kathy Henley statement maybe certain tenants don’t demand it.

Mainly it depends on the numbers and your level of comfort and experience in dealing with these older homes.

My bank used to require 25%, but as we’ve worked together and they’ve become more comfortable with me, it’s 20%.

Lots of great answers for you here.If the loan is already being serviced at a place where you're comfortable having it serviced, I would stick with them.

I remember when I was in your shoes a few years ago.