If you included  the cost of a new roof in your net operating statement it would serve to reduce operating income and therefore reduce cap rate and the value of the building all during one period, and the next period that did not have a new roof expense would then have a sharply higher NOI and therefore value of the building.  

We have asked him to reduce the rent if he wants to live at his property or give us due notice that he plans to use his office.

Hey SoBeREI, If you are interested and have CASH to invest, I have a deal right now on a multi-family lot, 3 duplexes, worth 750K to 950K, under renovation, 6 total units, vacant, rents go for $1100 per month in Ceres, California, investor asking $599,000 recently reduced to sell faster.

This will reduce some of your risk by hopefully scoring trustworthy team members from the start. 

You can use a studs or wood nailer strip to reduce the amount of sqft you'lll be losing on the block.

Our local Natural Gas Utility offers this:"Reduced-cost weatherizationAdditionally, Energy Trust of Oregon now offers Savings Within Reach to NW Natural customers with household incomes up to 120 percent of the state median income (SMI).

I do this to reduce tours to only people who are serious and who would even qualify.

If I use the banks title company they will pay closing costs and title insurance so I am looking to reduce my expenses.

This combined with the fact the insulation would be coming out of the two walls we needed to fix, reenforced the decision to insulate the entire main level with closed cell spray foam.Once the subfloor was up, we learned the unevenness of the slab was more so than anticipated; The stairs to the second floor were not hung properly - I'm amazed they never moved in the past 20 years.Since we were now into more than a full gut on the main floor {with the framing repairs}, a decision was made to "patch-up" the second floor, rather than gutting it as well, as an effort to reduce the newly forecasted spend. 

Upsides: I like this because it allows me to put 0 money down, waives me of mortgage insurance payments, and I build equity with a reduced cost of living as I will have room for 2-3 known roommates.