Once again for the second time?

[Graham Mink]

Hello,

Last year I purchased a historic commercial building that had 2 tenants who just barely paid the expenses. The building is 10000 sq ft and only 3000 was being used. After a 6 months of rehab I have found 3 more tenants and now it is cash flowing nicely. I plan on owning it a long time.

There is a similar building located next door. 10000 sq ft, historic commercial building available for sale. The problems are the price is twice as high ($250k vs $125) it needs more work and there are no current tenants. Also, it is located in a small town of 5500 people. The numbers work, with the caveat being that I need to find new tenants, which I should be able to do but not easily. Should I try and go for it again or look to invest somewhere else to diversify a little bit? I am more concerned with the thought of owning 20000 sq ft of commercial space in a small town than the dollars and cents, since the numbers work out as a very good deal for me.

Does anyone have any advice?

Thank you!

Graham