Have you thought about partnering up in joint ventures or getting involved in syndication?

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

what is the square footage and lot size? 

Obviously there would be risk involved, as a lot of things can happen in 2 years.

We have 46 properties across 7 states and the rent per square foot is very dependent on the market. 

Having to dig up the parking lot and redo the line to the street and repave can be many tens of thousands of dollars depending on the length of the run involved and how deep the lines are.Make sure you have the full financial numbers from the seller and they verify before spending thousands on inspections to only find out sellers numbers are wrong and they will not adjust the price etc.Hopefully in your purchase and sale contract you had language such as due diligence period does not start until ALL of the items listed are received by the buyer.

I'm not sure if there are crimes involved with doing this or if its to avoid being sued but I've always been told not to do it. 

I want price per square feet, but for cash sales only.

My unit is a 2BR/1BA 800 square foot unit, am I setting myself up for significant pain in the future?

I want to explore the opportunity to add additional square footage in the form of a room and/or bathroom, if possible.What are some thumb rules or guidelines to identify the feasibility of a adding a room and even a bathroom.. please advise.