I'm not sure what market you are in, but assuming it is a smaller one (i.e. not Des Moines) you have an opportunity to be a big fish in a small pond.My grandmother did that in a smaller Midwest town (began 70 years ago) and it worked out very well for her financially and in terms of lifestyle.  

I would ask to see the lease, and financials before going any further to make sure this is a money maker for whoever buys it.

Make sure you have a decent CPA and use him/her to help you evaluate financials of apartment buildings etc. aside from just doing your taxes.

It sounds like he's using a percentage or general rule which rarely stands up upon examination."

As for forcing the appreciation nothing stands out like adding a room or bathroom.  

I am new to BP, what is GCs stands for?

When the crash came, I predicted on FB that by the time this was over, the Greeks would be kissing the whips of their financial overlords after each beating and congratulating each other on having the wisdom to submit to such masterful masters.

If all works out we stand to make a nice profit which we will look to reinvest most of it, but may take our ten year anniversary trip to Bora Bora next year...at least it's a nice goal!

This is not to say that sometimes we (moderators) don't make a mistake and remove something that should have been left standing, but most of the time (obvious spam excepted) you'll get an e-mail describing the 'offense'.

@Simon Yosepov I can share with you a few local lenders that are investor friendly as long as you live in the US and you have strong financials then you can most likely get a loan.