I have a friend who has rentals and had the steel chimney taken out of a roof when he was having it re-roofed.

But higher end tiled backsplash and laminate countertop looks odd.If you can get a higher rent with a minor kitchen upgrade I would go for:(1) Wrap the countertop in stainless steel sheets.(2) Backsplash.(3) Cabinet pulls.

If you looked at a tree that was 10 inches thick and cut out a 5' long portion, that is what is resting on the basement floor and supporting the cross beam in the ceiling of the basement.I have only seen support beams like this made out of steel which is why I am questioning it.

They have to work to survive so they need affordable housing, they dont need granite counter tops or stainless steel appliances!

As @Ryan Steele stated vet the sponsor and the deal.Full disclosure I am a sponsor of syndicated MF properties.

@Robert Steele I know this happens alot.

I agree @Ryan Steele , 5% is a huge drop.

Best to gather your toys and go home.That was my last profit sharing arrangement from a lending position involved.Since then I had several successful deals, one very successful in a steel fabrication business, a grocery store and several smaller deals.

My selling agent (repping me as buyer) may not be the best person for the listing slot.

Regarding your question, @Ryan Steele has given good info as to how you would determine whether or not this property would be feasilbe as a rental.