Each unit is freshly painted, new windows, original hardwood floors, carpeting in bedrooms, and additional storage space.

I get more than that with my savings account.Personally here are the criteria I useRepairs 10% (I will pull a few percentage points off if it has been or will be a fresh renovation OR if it is a fairly new build)Vacancy 8% (Agree with Tim that this accounts for 1 vacant month every year due to turnover)CapEx 5% (same as repairs, will pull a couple points off if property is in nice condition)Property Management 10%Other Fees $100/mo (this is to cover lawn care, snow removal, and just put a conservative buffer into my analysis)Target:Cash Flow $150/mo/unitCoCR 12%+I believe theses numbers to be the most conservative side and that is why I start each analysis here.

Never thought to say anything on here since I was fresh new to the business and did not know much about it.

For one, they'll need to have an overall vision for the project and won't want to try to be matching the paint colour you chose once they've torn out all the kitchen cabinets.In some circumstances, putting on a fresh coat of paint and upgrading the floors garners a maximum return on investment.

Fresh investor here in the Dayton, Ohio area, trying to land my first deal....I've been working any source I can to get leads on deals, and the effort is starting to pay off.

They won’t be expecting the same money as their neighbors with the shiny new kitchen and fresh paint. 

Replaced flooring, fresh paint throughout and deep cleaned entire property.

Just fresh paint and flooring can eat that up fast, especially in high cost areas, so make sure that repair number is for real first.

If most of these businesses just moved in there you do not have stable pay history and track record of the business.In that situation I couldn't count the income as it's to fresh to be valid at least for me.So the lease terms and history is just as important as the lease amount.If the leases are coming up for renewal I would make sure and lock in those leases at current rate or higher before purchasing.The current tenants might plan to leave to a newer facility for the same rent or want a concession from you to stay and POOF there goes your whole income evaluation.Now your 8 cap turned into a 5 for a C product !

Try to find a ripe Bananna or fresh donut outside of anchorage.RR