Good luck and dive in.

Better have deep pockets and hope the return comes back in appreciation!

I am residing in the Phoenix, Arizona area and have been here for 4 years.I dived into real estate about 2.5 years ago and was a victim to lack of knowledge and a bad economy.

That's just a recipe for disaster because if your personal financial situation has a bump in the road, you could be neck deep in a matter of months.

Is it deep enough for an assignment fee for you and still enough meat on the bone for the cash buyer?

This might not be the right place and too deep but here goes.This is in Florida,During researching a property I came across a comp. that didn't look right.

Please feel free to give me any tips as I dive head first as a new real estate investor!!

Renegotiating the lease is critical as well going in.Food cost,rent,and labor are critical in running a profitable operation.With anything it's about buying the right location at the right price.I am seeing where I live many Quizno's sub shops taking a dive in good locations.Instead of doing a new buildout for 150k they can go an re-image a vacant Quizno's for about 20k to 25k to a different franchise model.Just like residential and commercial real estate owners are over leveraged so are business owners who bought or opened 5 years ago.They bought on overoptimistic anticipated returns and out laid too much capitol.

Sports and war are very similar and my point is that mankind has a deep seated desire to fight.

Location has a lot to do with that.If road frontage footage is say 20 bucks a foot, after you go back from the road for the land amount required, you would usually drop that by 50%, if it goes back even further, you might drop that another 10 or 20%, as with a deep narrow lot.