And when you do find that property you really like, chances are there are 10 other investors going after it.

Due to the risk of the deal falling through--it has happened to me at the closing table--I wouldn't ever do any major improvements. 

The building was doing well when I bought it but it is doing better today; and there is more room for additional improvement. 

@Justin Smits would like to have chance discussing with you for NWI market, thanks

@Wave TaylorI purchased a turnkey 3 family home 10+ years back in a C+ area and even though most of the improvements had been done, there were still a few capital expenditures that had to be handled within the first 7 years.

At least 2,600 victims invested their retirement savings, totaling about $400 million.Shapiro siphoned off $35 million for his own benefit, according to prosecutors, spending $3.1 million for chartering private planes and travel, $6.7 million on a home, $2.6 million on home improvements, $1.8 million on personal income taxes, $1.4 million for his ex-wife, and more than $672,000 on luxury automobiles.Roseman received $2.5 million for himself and Acevedo received $1.1 million, prosecutors said.The Securities and Exchange Commission’s previous enforcement action in 2017 was settled in January for a total of $1 billion in penalties and disgorgement of ill-gotten gains, the agency said.

I earn money paying off the mortgage, increasing the value of the property by theming and improving the property, building a clientele, getting high rates, etc.I automate and use good process. 

Thanks for your professional input.Great way of giving advise to a beginner landlord that wants to improve his business.

Then run sold comps with keywords; renovated, updated, improvements.  

Other than the sentimental value of a home and the chance of equity and resale value we could really do without purchasing one.