It is conventional wisdom that it is better to invest in apartment buildings that are within driving distance. This is especially true if you plan on managing the building yourself. It stands to reason that the closer you are to your buildings, the easier it will be for you manage them.
1. Know the Formula. When it comes to commercial real estate, Return on Investment (ROI) should guide each renovation decision. While research and careful planning help avoid renovation mistakes, it can also point to those investments with the best operating payback and increased market value.
Want to be a good tenant? Then read through the entirety of your contract. It will clearly outline how long a lease you are agreeing to, as well as any other important tidbits of information, such as whether or not you can do minor remodeling, change out light fixtures, and so forth.