Don't make any assumptions when it comes to improving property if you are looking to make an acquisition, the CapEx may be different when you will start to fix the property once it is yours, that's why a worst-case scenario is a plan that you need to implement when doing the underwriting to make sure that your investors will get the returns that you have promised.  

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Watch this episode on YouTube: https://www.youtube.com/watch?v=Eygx1nADZmA