Most older buildings have 8' ceilings, and everyone likes higher ceilings now.Newer buildings on the other hand are designed with more modern amenities, wider halls and restrooms, energy efficient heating/air and windows, wired for high tech uses, etc., and usually have more parking.

Adding a half bath is always good.Insulation means lower heating bills, make sure you sell this during tours.Quality, private outdoor space.2) What uprgrades/materials should I be looking into doing if I plan on turning a project into a long term rental property?

The female will be in heat sometimes, and therefore bleeding a bit all over the house unless they make her wear a "diaper", which they may not from the sounds of their cleanliness level.But if you say no, do you have a feeling he'll do it anyway?

Chicago All Temp plumbing and heating.

Especially interested in the Miami, Naples, Space Coast, and Florida Keys.

This is another place where a building inspector could help warn you about any major repairs that may be coming due in the near future (new roof, new heating/AC, etc)" http://www.biggerpockets.com/renewsblog/2010/06/30/introduction-to-real-estate-analysis-investing/J Scott, should I just email the seller and ask for this info?

I weigh my monthly rent against the following items: Taxes Sewer and Water Trash Heat/Utilities HOA Cap Ex and Ops (this is the fund for replacing the items @Glenn McCrorey mentions + snow removal + misc extras.

Especially if the HVAC is central, with single pane windows the owner is paying to 'heat the whole neighborhood!'

Fixed operating costs (taxes, insurance, minimal heat) and debt service do persist regardless of the revenue stream; this is why one creates a "vacancy & credit allowance" when budgeting or analysing a property .... it is also why lenders like to see debt coverage ratios (DCR) of 120+%.You are basically asking at what point of missed revenue (vacancy or bad debt) will by boat cease to float.

I also like looking at trulia's heat maps.