My inclination was that it's somewhat bogus to expect a buyer to pay as if the building is already performing at a certain level, but for all I know, in instances such as this one, maybe it's not that far-fetched.

For instance, in my most recent conversation with Clayton, he told me that both sides of my property were leased.  

For instance, if you're renting to upper middle class tenants in 'A' class neighborhoods, you will likely encounter a different preference for how the rent is paid than if you rent to lower class tenants in a 'D' class neighborhood. 

When the house is sold, first all the sale costs are deducted, then agreed repair cost is deducted and what is left is the profit.Finally, how the profit is split depend on negotiation and on how extensive renovation was.

I had an instance where I came home one day and caught a guy pulling a lawnmower out of a shed.  

For instance, do you want to own the property outright or invest through a syndicator (those aren't the only options, btw)?

For instance, you could face major legal issues if you accidentally (ignorance is poor defense, especially in the Peoples Republic of Illinois) charge a tenant more than what you were charged plus the state allowed fee.

Once all the furniture was out of the house, I quickly realized the renovations I planned on doing would need to be much more extensive.

If you’re shopping for a mortgage lender, for instance, the FICO score they receive will factor in that new credit card application you submitted last week."

For instance, being able to spot an easy opportunity to add a bedroom or a bathroom to a property...if it's an easy conversion, and it's on the right type of property in the right market, 10-20k spent to add a br and/or bathroom can pick you up an extra 500-1000 per month in rent...do the math, and you'll find that that is some incredible cash on cash return.