Newbie with Potential Deal apartments/commercial

[Steven Swierenga]

Hi, I'm new at this and need some help to make sure I'm gather the right information as a I think about his deal. First, a little about the property. It is located in east Austin on a major thoroughfare. It contains a closed-down but functional restaurant and 2-3 houses that that have been subdivided into 6 apartments. The property can be accessed from the main road and from a secondary street. The property is owned by a coworker who inherited it along with 6 other siblings. Their relationships are contentious. My coworker has been managing the residential buildings (and reportedly is cash flow positive since she and her siblings own the property outright) and at various times has rented out the restaurant (I have no information on this). She is looking to get 2 million. Since this is a mixed use property how should I go about figuring the value? What questions should I be asking? I've read a few books, frequently listen to the BP podcasts, was primarily interested in buy and hold residential/multi-family, and hadn't planned to take any action until 2016 to be sure I'd given myself enough time to learn. Any help would be appreciated! Steven