Eventually, this would be an ideal spot to build a nice home for retirement.I am planning to paint the paneled walls and cabinets, replace hardware on doors/drawers, update flooring.

When figuring NOI and Cap rate do you assume the shopping center is 100% occupied or do you put a risk factor on it, say 15%, which is about equal to one spot being vacant.

Also ask him to look at MLS with you looking on and find the average days on market for similar sold homes.If the broker is spot-on with his answers and you really are priced right, I'd probably give him a short period to fix whatever is wrong. 

Not much work by big players or small rehabbers yet.The neighborhood still has a long way to go, but its proximity to highway access points, fairmount park, and still somewhat close to the train make it a good spot IMO for a long term strategy.

I slot each applicant into a 15-minute spot, and hopefully have 4-to-6 applicants lined up. 

I have my eye on one particular REO property but there are many in the ways of vacant/abandoned yet gorgeous homes.

You are in a tough spot.

It seems spot on.

Either way, you should be able to find the access spot by looking around outside.

Equity" is always squishy and subject to uncertainty because comparables based on spot values do a poor job of measuring true value.