I'm currently pouring everything I've got into fixing up a new office space, but once it's done then I'll invest only out-of-area.David Greene has a great book that explains the whole process.

Ideally, this would be a garage apartment with some office space below and approximately 600 to 700 sf unit for STR purposes above.

On the note of topics and code, depending on when the house was built if you replace the dry wall you lose grandfather status and will be required to update both the plumbing and electrical to modern standards.

You just may have to factor in a larger vacancy number for the retail spaces.

Investment Info:Office Space commercial investment investment.

I've never had to worry about two families occupying the same space.

Hi everyone I'm extreamly new to the investing space.

Building one will cost you about $200-$300 a sq/ft so be sure to factor in those costs as well.Renting by the room will probably bring the most cash flow, but one has to be alright with sharing a space with multiple people in exchange for more money.Good luck getting started!

I would love to meet some new friends in the investing space!

To determine if the expense should be classified as a capital improvement or a deductible repair, the context of the expense is very important.An example is, if an item of expenditure is part of a general plan of modernization, renovation or rehabilitation to equipment or other business property, it typically must be capitalized even though on its own it would be currently deductible.According to IRS Code, expenses that you must capitalize are those that:Materially increase valueSubstantially prolong useful life (including replacement of deteriorating assets)Adapt the property to a new or different useHowever, you are allowed to deduct expenses and fees for routine maintenance and repairs that help keep the property in efficient operating condition.