I have had much better luck and improvements since they actually started doing what they said they would do.

Just takes practice.

It seems like I get something in the mail every week that will improve my camping for another $40.

This would still require one to place the capital in service over a period of time though and gathering enough units to cash flow north of $1M would take a lot of effort.I agree with others that have stated this would be much easier to do with commercial product purchased selectively.A mix of flips and rentals would drastically improve the yield, but it would also increase the human capital contribution via your time.

They want it and would like to lease it for us for a 10-yr first option triple net.I have been negotiating with the owner and think we can get the building for $200k and would need to put another $200k into it for improvements to lease.I have not started hard negotiations with leasee (waiting until i get control of building, but will not close until executed lease is in hand) but have casual discussion of $9/sf.So we are looking at cap rates in high teens and a hefty cash flow with paying off the building in 10-yrs.

Before I bought my first house (primary residence), I knew next to nothing about renovations and improvements.

I like commercial because there is not as much competition for it.You can structure a deal more creatively and there are more different types of lender loans than for residential.Residential is highly regulated by the government now.Commercial I don't want the government messing it up as well and squashing creative financing.I like commercial for economies of scale and ramping up larger transactions.You can make money in residential it is just not my thing.I like retail and multifamily.Medical will be hot for many decades to come as well with the boomer generation retiring.I don't care much for industrial but I am seeing some transition areas where a developer takes an industrial shell of a warehouse leasing at 2 sq ft.They put improvements in and get rezoned to mixed use retail and get 15 sq ft lease rates.

One of his property (102 unit) is doing good, great property manager, 92% occupancy, no debt, after 7% improvement reserves, NOI is 178K.

I am willing to work with good tenants on getting the place in line and also look longterm at the improvement of the property.

House across the street from my personal residence is on sale and I can get a heck of a deal on it, I'm thinking about buying it and either sitting on it for a while until the market improves a bit around here or possibly rent it to a company that brings a lot of executives to our town, mostly on a temporary 12-24 months basis.