As with many of us, I have fielded scores and scores of phone calls and have taken time to help those where I can with nothing expected in return

Also does a lot of upkeep on the property and doesn’t ask for anything in return.

I like to hold 1960-1980 built CBS. simply because they are gonna yield so much more return than those newer properties. you like the stable and I like as higher return as possible in short amount of time. 

That aside I would like to see 8-10 percent return on anything I buy.

Of course, you can just pay cash for construction expenses, but this will need more initial investment and you'll have lower return on your cash. 

That will help you understand if it is worth it and what your actual return on this project is.

He also borrowed cash from me which he returned after a few days to a week. 

If you want to buy a property, absolutely get a preapproval, a Real one.....where you have to submit tax returns, w-2's, bank statements, etc.You don't really know what ou can buy until you get one.  

While it has been relatively good in terms of rates of returns, the markets have been red hot and finding the same type of good cash flowing deals has been difficult for now. 

@Vincent PlantIt sounds like your cash flow is slightly less: consider setting aside 10% of the rent for repairs (paint, carpet, plumbing, etc.) and 10% for capital improvements (new roof, new HVAC).Consider paying any debt with high-interest rates (anything greater than your cash on cash return).Save the balance for your next deal.Good luck,