David that is such a broad question.Shopping centers vary by age.Generally everything recycles after so many years.For instance if a shopping center is 40 or 50 years old it is past it's life cycle.Generally at that point you tear it down and build new.If a shopping center is say 20 years old many will just reface the outside to make it look new and repaint and re-stripe the parking lots.This is all predicated on if the shopping center still has a viable location or has growth shifted and now the center is int he old part of town.If it's in the old part of town refacing might not make sense and instead you buy at a lower basis to rent to Big Lots,outlet stores,etc. for less money.Still a tenant that will rent from you but at a lower cost because the area has shifted.With shopping centers it's all about the corner and access from 2 points,red lights,traffic volume and flow,etc.Anchored shopping center versus unanchored,tenant mix with credit rated tenant and frachise concepts versus mom and pop operations.Just like with houses you can run into big repairs with older shopping centers.Don't pay attention to current leases as much going in as what is market rent now and any leases fixing to reset.Also need to know level of shopping center saturation in a 2 mile radius depending and could be tighter or bigger in size depending on rural,subrurban,or urban core,and population count and demographic.Hope it helps.

Or, if nothing else, you could help warn other landlords who check their credit before renting to them.Here's one such way to do it: https://www.aoausa.com/secure/mrLandlorddebtreportingservice.htmlGood luck.

I've compiled a list of steps that I need to do before I find tenants, and I wanted to see if anyone could see anything missing from this list.File for a Fictitious Name with the Pennsylvnania Dept. of State Corporation Bureau, and wait for your number.Apply for an EIN with the IRS.Set up Bank Account for DBA / Rental PropertySwitch from homeowners to landlord insuranceGet an umbrella liability insurance for $1,000,000Register with PA-100 form (I'm not sure if this is needed for landlords or not...I can't figure that out)Apply for a Philadelphia Tax Account NumberApply for a Commercial Activity LicenseApply for a Business Income and Receipts Tax Account NumberGet a Registered Agent in the city limits of PhiladelphiaApply for the Philadelphia Housing Inspection LicenseReceive a Certificate of Rental Suitability issued by L&IFind a tenantDistribute a copy of the required "City of Philadelphia Partners by Good Housing" & Lead Warning pamphlets to tenantsSet up an Escrow account to hold tenant's security deposits.Collect Rent with checks made out to DBADid I miss anything??

When one of my preferred lenders went out of business, that was a huge warning to me.

@Ann HowellThank you for shining your bright light on these folks - it's the only thing that keeps them at bay.

My understanding of a pre-hab and they way we use the term is, either getting a property under contract or make the purchase and doing light work to make it more desirable to a re-habber.Example; we put a property under contract, evicted a non-lease tenant, and cleaned out the property of all trash.

Most require a warning or postage of signage, before one can claim trespass.

I put in LED lights because 1) they are free from the electric company and 2) it will hopefully prevent the tenants from losing parts to the light fixtures when they replace a bulb.  

If cabinets are salvageable, paint them and put new hardware, neutrals paint colors throughout, light fixtures, neutral laminate countertop, no carpets, tub/shower surround, stainless appliances  (if you supply them) The key is clean simple lines.

Fans that blow to the exterior are the best bet.Then you have to make sure tenants run them.You can hardwire them to the same switch as the light so they go on every time, ORyou can install an automatic humidity sensing switch that makes the fan go on when the humidity in the room gets to high.