My wife and I are currently starting out real estate journey. 1.5 years ago we bought a dental practice, and last year we purchased our dental office building priced at around $2M with $500k in equity.

I like the multi unit office model, like multi family it brings down the vacancy risk, but also, in a small town I'd be looking at growth trends, incoming investments etc to confirm that use case for the long term. 

Quote from @Sanil Subhash Chandra Bose: Quote from @Jay Hinrichs: Very good.. reality is though very few will do this to much work.when I was full time buying courthouse steps I would occasionally go into the recorders office and see my competition doing all this busy work.

If the loan officer won't do that for you, you've got the wrong loan officer, find a new one.

Quote from @Stuart Udis: I suspect they drew you a flow cart and then your conversations went something like this:Please kindly remove your bugs from my office

yesss you'll want to run the numbers on a few different scenarios: 1. doing a cash-out refi (new loan amount, new rate), 2. doing a HELOAN to tap into your equity... and actually, 3. selling the property and doing a 1031 into a bigger asset that will cashflow better. condos (when doing LTR) rarely cashflow much if anything. find an investor-friendly loan officer that can help you figure out which path is right for you!

I am in the process of purchasing 3 properties all right next two each other. 1 multifamily and 2 commercial office space of which we plan on using a significant portion of for our medical practice.

., home office, Wi-Fi).

I would think Chicago, as with most major cities, has strong MTR potential if the property is located near hospitals or near the office buildings in the Loop.

Some I can think of off the top of my head would be salaried sales reps, basic record of past performance, proper offering documents, back office procedures, policies and procedures for proper vetting of investor accreditation.