@Jay Hinrichs , so you're saying we should invest and open a home improvement store :)

I'm in the process of purchasing a 2 family with a detached two car garage that is currently rented to an older guy, separately from either residence.The place is only for storage.Absolutely no working on cars or running a business out of.No storing hazardous material or illegal goings on.Not in any way responsible for damage due to environmental conditionsTenant is responsible for securing his propertyOnly allowed to access the space between 8:00 AM and 8:00 PM - so as not to disturb tenants.The gentleman seems to be a hoarder and is in his 70s.

I then came in to correct all those items.

I tend to believe that off-street parking appeals to tenants slightly higher up the economic ladder, but for many I don't think it is a big item on their priority lists.I personally would only do off-street parking.

In regards to the last question, what items are needed for due diligence?

Might put you to sleep if you try and listen to the whole thing in one shot unless you just LOVE TAXES.The Everything Store- Brad Stone.

If you break out each item its really, really easy to say "that's too much, I'll trim that" and then you're down to 30% of rents.Even brand new roofs and furnaces need replacement someday.

Remove those 2 items and R&M is $5202.However, I question why seller would sell the year after incurring such an expense?

He said they were good tenants and operated a store in his strip mall and he didn't really know anything about them.

The buyer closes on his HUD-1, sale price is 27K with costs of assignment as a separate line item of 10K.