Most banks want to be sitting at a 80-85% LTV so we would need a good appraisal to just cash out the fill 70-80K you need for improvements.  

Thanks for sharing with us.1) I would love to hear what your contact thinks about the NYC market versus elsewhere in the country.It would be really cool if he has experience outside of NYC when it comes to RE investing.

Lots of ways to improve credit.

Is the rehab necessary before renting, or can the rental income pay for the improvements that would need to be done?

I do think that it will improve. 

New roofs have been done, sidewalks, landscaping, etc. with more improvements to come.  

I believe the owner has the financial resources to make the repairs and upgrades, and I think that would be a better way to go than encumbering his/my ability to raise rent as appropriate as the weatherization, and other improvements, are made.  

Hello, I'm always looking for ways to improve my community and to grow my net worth.

Looking for advice on this deal as I have never done a commercial deal.Property type: Mixed use condominium (nonconforming use variance) 1500 sqft beauty salon lease expires next year, they are asking for 4 year renewal, 500 sqft storage stable income long-term lease, parking revenue in a poolSize: 2000 sqftPurchase price : $600,000NOI: $48,000 (7.5 cap, NNN)Location: Honolulu, HICondition: Good, HVAC just replaced, needs $10k in improvements to flooringI'm interested in the property because it's a high cap rate for downtown Honolulu.

I also own the cash flow games 101 and 102 and they are a great way to learn how to improve yourself.