If you look in another location I would stick to the 2 you are already investing in and expand your footprint.

Inheriting it is the best option tax wise- because it gives you a step up in basis to the property's value on that date. 

I have done condo conversions in DC.

He is also in the service, is an investor and also an investor focused agent in your area.

We have tenants that looked good on the application and background check that when they showed up with pet in tow (no pets allowed), 10 relatives and vehicle filled with trash and cigarettes in everyone's pockets that we knew this would be a problem lease. 

Or, if you put several Class D tenants in a Class A four-plex, what do you think will happen to the property?

I highly recommend a well-qualified REALTOR who works with investors and knows how to help you best.7.

Hey Dale,So the best way to find some GAP funding is to look for private investors either in your area or that you know that would help.

I guess I am not sure what your goal is, but I guess funding capital improvements is one way to get involved in CRE, but like Don noted, if you don't understand the concepts of investing nor the specific risks of any of those options, then you are not investing, you are gambling at best, and throwing money and time away at worst.I.e. a quick search of Cincinnati for industrial properties under $300k, and I have about a dozen. 

A good attorney or CPA can help you decide the best structure based on your long-term goals.