As an example, why spend extra money on custom lighting when a lighter color of paint would have the same effect?

You can probably spend 30 minutes talking to your local city licensing center on what licensing you need.

My gut feeling is that you should walk away and not look back and spend more time establishing investment benchmarks that every deal has to meet or exceed in order to buy it.

I'd spend a few minutes consulting with an attorney since the horse has already left the gate.

I could spend 3-5k on each of the upper 4, the 2 lower units are not even close to ready, flooring cabinets ect.Owner drops other shoe: The commercial lender has decided to "Not renew smaller property loans" (As per owner)He has received a "Foreclosure notice" yesterday, He also mentioned the bank did an "Environmental exam" a few days ago.He owes $258k on the property, an educated guess tells Me it will appraise between 175k-225k depending on who wants the appraisal.I know most would run away and I may do that.

I no longer work at my career as an orthotist and spend my time investing in the stock market and helping take care of our DD foster daughter.

My ultimate goal is to continue to build my REI business and holdings so I no longer have to trade as much time for dollars as I do now and be able to enjoy spending time with my family and doing the things I enjoy most such as travel.

Same in the forums.Everything in your 3rd paragraph is out of the question, won't happen and sounds like you're getting pretty mixed up there guy.Get out of the guru stuff, all of it, don't begin with anything from anyone, spend one week with a real estate text book for agents in you state.

I would not spend too much time on trying to buy the second.

Do you have to spend a lot on renovation?