And doing a short sale will certainly hurt your credit"it was purchased as my first home and i moved out last yr because i needed more space for the family. i have income to cover the loss.

Another potential liability issue and likely code violation: The pickets on the deck are spaced too far apart. with 4 steps, you need handrails.

If there are other revenue sources (parking spaces, storage lockers, coin laundry, etc) you would add that in as well.From there you can figure 50% expenses to get your NOI.Your NOI divided by your purchase price is your CAP Rate.What you'll usually see is someone saying they're gross rents are $1,000 so their GOI is $48,000 for the Quadplex.Their property taxes are $3,000, Dwelling Insurance is $800, Sewer/Garbage is $4,000 so their expenses are $7,800.They will claim a NOI of $48,000 - $7,800 = $40,200 and then calculate a CAP Rate off that.This is a garbage calculation.

Hello, I am about to purchase a house with sloping floors in the basement.

(subletting for cheap)But now we both have jobs and we figure its time for our own space.

We both end up gutting kitchens, water heaters, baths, all flooring, etc so the minor things don't really matter.

They put it in everything years ago; popcorn ceilings, tile floors, pipes, siding.

Steve that was not a commercial broker to me that you had before.A leasing broker should be a leasing broker period.A sales negotiator should do the purchase and sale.There are brokers that do both but people at the height of their game only do one thing for the most part.You can have a generalist that does 2 things or have 2 specialists working for you that do separate things.The broker wanted the sale to make a big commission so was scaring tenants away.No tenant will want to make an investment into a space knowing they will be moving right away.You can have language in your leases allowing you the right to terminate early but not giving away you are selling for development.Ultimately after the lease is signed they will find out in the newspaper etc. when word of the project comes up.Your previous broker was not doing their fiduciary duty to put you first as a client.

More bedrooms, more baths and extra space will make more difference than nicer finishes.Any feedback from the people who have seen it?

You determine this by looking at the commercial space are they giving it away or is it starting to fly on its own?