Any rough formulas to figure out how much is worth spending on a garage?

So I spend only the time it takes to look at my rent roll and enter my expenses for the month into my ledger. 

Based on the purchase price, I'm just going to take a wild guess that this is an older building in an average-at-best neighborhood.If that's the case, you are going to spend a lot more on repairs, and you are going to have a lot of CAPEX every year.

I suggest you visit the city and get to know the areas and people, before you spend a nickel. 

Just go through some of the ideas shared , spend a day crunching numbers , educating yourself and seeing if you can make it all work!

My business partner has a hypothesis that spending extra money to build an abundance of storage space into a rental unit will keep tenants "sticky".

How does spending time & money removing an income stream from my life only to replace it with another one that may or may not be worse increase my bottom line?

Be ready to spend it.Step 3.

I live in a large Amish Community in Southern Indiana with several different things to offer but just not sure if I should only promote a place for people to stay or widen the choices to include tours and actual time they (Tourists) could spend at Amish Farmsteads which would include learning all aspects of the Amish Lifestyle.

My main investor always says he will glading spend 2k to save 10k.