Do you spend the money on a house meter, get a sub meter installed?

If your project is good that might work but also if your project is not as good as you thought you should learn that from the consultant once they review what you are trying to do.There are some books out there at ICSC and ULI but you would still need a consultant on the local level to give guidance.

@Kristy FarmerSounds like spending a bunch of money for nothing?

That and owning his own jet allows him more flexibility and maximizes him more time to spend with his family. 

I know how much money I have, but not how much would be "right" to spend on a first property.

Hey all.I'm new to BP and REI and so I spend most of my time lurking and trying to absorb information.

Sure, it's nice to have friendly neighbors that don't hate you, but how much time do you really spend with them?

Here's my wealth formula:  Spend less than you make, and invest the difference in something you understand and control. 

I have viewed some auction sites, but have read very mixed reviews on whether or not they are reputable.

REI is no different than anything else that piques your interest in life...you spend time learning and doing it to see if you like it.