What improvements require the seller's written permission, etc. 

The area is close to Newark Airport which is a plus and has easy access to Times Square NYC with a short bus ride.

Some contractors may help you draft that.Don't forget exterior improvements to soften it so it doesn't look like a converted motel.Let's say you do that and the average bid is $200k.

That's a good thing, but it's not like the neighborhood is improving and the rent is increasing.It's a lot of cashflow, and a lot of headache. 

Apparently she and many of the other residents suspect that the management company is pocketing monthly fees that are earmarked for improvements to the complex, and has been towing condo owners' cars for nonpayment of disputed bills.She and many of the other residents in the complex are non-native English speakers and of limited means.

@Laila EaDefinitely check the lease.For commercial, the lease can be structures so that the landlord is responsible for any improvements to the building, OR it can be structured so that the tenant is responsible for improvements. 

You don't need a real estate license to be an investor.It would actually cost you money to hold a license and not actually use it.To get access to the local MLS, you have to pay money to the local Realtor board.

The predominant message on BP is to buy under market, improve and refinance (or sell for profit).

My only money in would be $100,000 for renovations that needed to be done on the one unit and general property improvements.

It doesn't take much time, but it can really improve your results if you keep it up!