There is always a level of risk, but the size of that is risk is managed by the knowledge a person has of the market and their personal skills.I am not sure how familiar you are with the specific area that Luke is looking at, but there are young people riding bicycles to tech jobs, young women rollerskating through the neighborhood with Beats headphones on, and trendy little hipster bars and restaurants popping up nearby. 

All of you are welcome, but we do need a head count so the restaurant can staff accordingly.

The second we stop learning is the second we shut down our resources for growth, both business and life.I hv always said that there are as many ways to make money in real estate as there is real estate.  

If the valves aren't shut, they'll often break.

How much of the building's basis can be re-allocated: up to 60% of golf courses, 50% hotels, 45% resorts/manufacturing/restaurants, compared to 40% apartments.

Instead of you going on Yelp and talking about Chicken being overcooked, imagine if the restaurant's Yelp account could review you as the customer?

After talking to several people there, one lady says just keep the balance no higher than $250 and the water won't get shut off.

Most of the rehab Investors  because it is so competitive have to get their remodel costs as low as possible so they will go with johnny lunch bucket who needs a draw to start and be paid once a week and cannot carry a job.. when you do that you expect to get better pricing. and its much like running a restaurant you can have great help but on a busy Friday 2 of your staff may not show...

Since I am old enough to get reduced price meals in restaurants I don't want to be 85 when I get the property paid off free and clear. 

Luckily, my Dad owns his own construction company so I've always got that option of a joint venture.Below I've just included my logic about my strategy (mentioned in the first comment), would be great to see if you guys thought I was heading the right direction.Process for this example deal I was looking at: http://www.rightmove.co.uk/property-for-sale/prope...1) Buy properties at auction, 2) Add value through converting into either a 7-8 bed House of Multiple Occupants, e.g. students, young professionals etc, OR three separate self contained apartments, 3) hold each apartment for rental income.This place is right next to an overground tram station connecting tenants to the whole city, surrounded by 12 bus stops, bars, restaurants, 8 schools within 1 mile of the property, 10 minutes to one of the main city hospitals and a VERY strong rental demand.