I have around 20 grand in debt, but have the cash on the sideline to pay for it.

Over the years, I've bought a handful of properties in Little Rock, Mississippi and Ohio which cashflow a couple grand a month. 

But to me, that is an absolute grand slam of a deal, especially for my first one ever.

This is a small deal in the grand scheme of real estate, so I would expect them to be looking at your credit and income, as well as the deal and cash flow on the deal. 

@Dimitri Paspalaris if it’s no difference to you, consider telling the seller that you’ll close early if they’ll knock a grand or two off the price.

I only have a couple grand and my brother as well.

@John MorganDo you really live in Grand Prairie, Texas?

It's not that big of a deal in the grand scheme of things.  

I wasn't expecting to hit a grand slam so early in my investing adventures and I need to clarify what makes sense for both the immediate future and the long term future. 

Yes, that restaurant better be adapted to the quick bite clientele than a grand sit-down for an hour especially in a busy part amidst a mobile crowdThere are generalizations to everything, but individual investors invest in specific real estate properties, and unless you are investing in REITs that are focused on one sector (say large retail like malls, etc), evaluate each property for its own merits and mix of tenants.