Share Your Latest Cash Flow Deal

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Like to know what fellow investors are buying or strategies to achieve cash flow today and what market??

If you care to share

I submitted a bid yesterday for ~60,000 square feet of warehouse space across three buildings, located in an industrial park that I already own a building in.  The asking price of $1.7 million is well below replacement cost but they will need around $400k of work just to be class B space (ceiling height is limiting factor).  All are currently rented but the lease terms are below market given the state of the buildings.  

My plan is to approach the tenants to see if they will renegotiate their leases if I pay for the renovations now.  Things like cosmetic upgrades, expanding office space which is currently too small for modern needs, upgraded lighting, sprinklers, etc.  If they decline, I will simply wait until their lease is closer to maturity and then pay for the upfit in conjunction with finding the next tenant.  Should cash flow at a 10% cap rate even before the work is done, plus I hope to pick up an extra $18k/year by getting the tax designation changed based on the currant usage and gross rent lease structure.