Working on our due diligence phase now, I already know we need to replace the roof, so going to get some bids on that.

When reading modern books that mention technology, it's always best to consider the concept, rather than the actual software.

The HVAC was replaced 5 years ago.

The floors need to be replaced and other cosmetic renovations are getting planned with contractors to make it much more modern and appealing.One of the issues I cant stop thinking about is the damn heating system.

If store is doing well for location but the whole system has issues that tends to give the lenders much more pause and concern.Check rent rates for that box size to make sure vintage rent in place is replaceable.

Smaller concern is the plumbing/piping as I believe it originally have galvanized pipes(I heard those are no longer legal), but those were replaced(not sure when), but I think they are okay.

It make sense if you have to replace stuff anyways but not so much if its an upgrade to a working piece of equipment. 

For $20 you can buy a kit that replaces all the working parts of a toilet. ie everything but the ceramic parts and the seat.

I used PBR Construction out of Revere on my triple decker in Eastie for removing and replacing all vinyl, wrapping the windows in aluminum, and replacing decking/railings on the porches. 

Also, don't forget to ask the contractors for suggestions/ways to be cost effective in replacing the roof.