Garage Condo, good or bad idea?

[Tom Makinen]

Looking at the overpriced housing market and the work involved on some of the projects, I decided against them so I have been dealing with things that are mostly handsoff (crowdfunding, etc). Still, I really want to have some hard asset. The housing market has soften here, but it is still more than what I would like. Therefore I am looking at everything. One of the thing that popped up are those garage condos. I understand they will never have appreciation powers like a rental property, but they are relatively inexpensive and they will retain their value. What do you think about them? While I could get a SBA loan to run my small business, but it would be extremely difficult since my business doesn't require an entire storage space. I can either keep it for myself to run my business or have lease it out like a NNN lease. It will be difficult, but doable. What do you guys think? Also if I go with an unit that is empty, is it even possible to get a conventional commercial mortgage? I can put a lot down, but I prefer not to stretch myself too thin.