What it also means is there is no floor on how little you can make.

It has a kitchen and a liquor license. 2 floors of lease space.

After his presentation, we will open up the floor for a Q&A session.

2) If a property needs to be updated (ex: new floor, paint, fence), how should I go about incorporating language into a deal that allows me to make the updates I need while providing me with the proper protection financially and operationally?

Capex is the most underestimated expenses beginners make. 1 item in your budget is flooring.

I recently purchased a home in Pensacola Florida using an FHA 203k loan (160k pp with $32k reno funds).Most of the reno funds are being used for interior cosmetic things like refinishing wood floors, new cabinetry, countertops, bathroom tile, etc.. 

We ran lots of scenarios on the numbers for a 2/2 second floor condo unit in Seminole County FL (north of Orlando).

I'll show more numbers at the bottom of this post.According to the listing agent, the property has been recently renovated, including a new roof, new stucco, new concrete sidewalks, new exterior & interior paint and new landscaping.

As far as reno's to I've kept it to easy, cheap aesthetic stuff like paint, floors , and adding a backsplash so hopefully I get a decent return.

I'll show more numbers at the bottom of this post.According to the listing agent, the property has been recently renovated, including a new roof, new stucco, new concrete sidewalks, new exterior & interior paint and new landscaping.