Calculate your risks, and make sure your risk-adjusted returns are there.  

No knobs or adjustments where the temperature can be adjusted by the tenant.If you know of such a device, I'd love to have some info on the source.

The original offer the day the adjuster showed up was $4,800. 

I don't know if you use standard AIR leases, but note that in there is the following wording: "the Base Rent stated herein is NOT tied to square footage and is not subject to adjustment should the actual size be determined to be different".

Also, keep in mind that the depreciable basis in your property is the lesser of your adjusted basis in the property and the property's fair market value as of the date it is converted to rental use.  

I am looking for an architect with experience dealing with Newark's Central Planning Board/Board of Adjustment.

If it is owned by a person, you may have to adjust upward.

Then you can adjust the plan and try to stick to it.

I am currently working as an independent insurance claims adjuster , but looking to begin my journey in real estate investing at the end of 2016/beginning of 2017.

Unless the short is pre approved its way to time intensive to pursue these, as a broker that has worked many SS deals, i look for other outlets, and only look at shorts if ive got no other leads, and everything else is done, ,y books are buttoned up, my garage is clean,  and the windows in my house are washed, and still no prospects, then i may start looking at them,