It's exciting to see your focus on building a real estate portfolio for financial freedom!

I'd bring island out a little more. my advice is make sure all rooms are 110 sq ft minimum. some of these look super small. we build a very similar one in our market.

It seems like the tenant is being respectful, following the rules, and is not being a problem so I think that is what you would tell any other tenants who ask, as long as you have seen the card.

Assuming this is an 8 cap neighborhood you'd have a ~$420-450k value within a year (unless property taxes are crazy high) when leases would renew since it'd be valued as a commercial building with the office space.

I'm currently in single family homes and apartment buildings in central and west Texas but have been evaluating a few residential assisted living homes + business / license to purchase in Austin and San Antonio.

The value generator in commercial is the lease or use of the building.  

When you have studied your market properly you should be able to provide the answer of if single family or residential multifamily is better for cash flow. 1% rule was for a time when almost all deals were decent as a way to rule out the lessor deals and concentrate on the best deals.

I view real estate investing as another wealth building tool in my tool kit.

I want to be a source for these families and help build their resources to become successful.

@Craig Holland Land is often sold with owner financing, in part because buyers have a hard time financing it, and in part because buyers often only need a short time before they can build on the land and refinance out of the seller loan.