I’m surprised they were dumb enough to jack the sales price up 70 K above retail.

If this was me, I would leverage my equity into a commercial office/retail/industrial multi-unit or multi-family property.

If you have less money than will need to look into retail condo investing and mom and pop type stuff.

HostGPO has a 50% off Helix (Retail Prices) offer with free shipping.

You should never pay retail!

: I understand that there is commercial and residential, but there has got to be subgroups While I don't think you need to niche down immediately, some specializations in residential RE are:- Co-op- Condo (incl. luxury)- SFR (median pricepoint)- SFR Luxury- MFR- RentalsThere are a ton of commercial RE specializations including retail (various types), restaurant, other food/bev., warehouse, storage, and dozens more.What should I expect when first coming into the profession ?

@Anna Davis - I agree with Stuart that most properties at Auction need some level of work, especially for a retail/consumer buyer.

If you pay retail, you'll be looking at 500k to 550k depending on area and lot. 

@Dave Harlan They have an amazing product but your better off using a mortgage broker with a great reputation for customer service because they offer wholesale pricing advantages to their brokers and the only complaints I've ever heard about them have come from service issues on the retail side.

My background really comes more from construction and development in residential and retail construction.