.)** My biggest risk is this - if the business is not successful, I am personally liable for the lease payments of $4800; lease duration is 5 years.  1400 sq feet in Columbus Ohio.   

@Jay Hinrichs Yes I agree that air bnb probably won't be our biggest issue.

.)** My biggest risk is this - if the business is not successful, I am personally liable for the lease payments of $4800; lease duration is 5 years. 1400 sq feet in Columbus Ohio.

I’d try nowIf you have 10 days before the appraisal get the biggest bang for the buck project done, leave the equipment there and a friendly appraiser might give u credit for most of the work.Have your property manager put his estimates of rentals on paper and letterhead and give to appraiser.

That could be paraphrased to say that your biggest risk of making a mistake and losing money is when you purchase your property - and your first one matters a lot.That being said, it's still great to focus on preparing yourself in other ways.

Hey BP Family,I am new to RE investing and one of my biggest concerns is Rehab cost.

The biggest piece is the seller financing though.

That is my biggest problem right now too. 

The biggest question is where do I grab the expense numbers from.  

@Manny AwasomThe entire south side of Indianapolis will give you the biggest bang for your buck in regards to class B neighborhoods.