I wish this forum has a search function as I'm pretty sure this topic has been discussed in the past and there are probably plenty of opinions on the matter.

Also I dont know about you but I have never been able to find anything with the search function on this site.. to me its INOP and should be placarded that way. 

I suppose it's possible to pull off if you were to find a light cosmetic value add property where you could say take a property with extra square footage and add a bedroom or take a property with a bad layout and make it more functional over time, etc.    

What I am taking away from this is that the purchase price is a function of the rents for commercial property, and the price I should be willing to pay for a commercial property can be "reverse engineered" using typical cap rates for an area and the NOI of a property.

The best markets are those that you can relate to and know how they function.

First and foremost, that house with the dated wiring could continue to function and let countless more families live there safely and comfortably.Second, if you don't replace that wiring immediately, you will end up with a house like several of my rentals and approvimately 50% of the real estate in your market.  

., the return is a function of owning the property at all, not of how much equity you have on it.

However, maybe it's just me, but it seems as though the search function hasn't been too great for the past month or so.  

Traditionally, PM's will charge a management fee as a portion of rent plus commissions on various functions such as placing a new tenant, etc.

If there was gas in the window, well that isn't replaced, but otherwise you have a fully functional, double-paned window that works about as well as the original.