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.  

However, they didn't insulate that building well so in winter residents consistently get heating bills over $200/mo. 

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

If it is a class C office building with 10% occupancy that is very different than a Class A MF which is still very different than a debt fund with zero leverage.As mentioned risk and return go together  - greater risk should have greater upside

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

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 imagine others don't like that it's in an older condo building without private laundry.

@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. 

We have worked hard to build up our systems to manage our business.