So if someone tells you, it does not matter about liens behind you - it does.There’s one more ; the borrower has increased debt service and when it either turns negative or leaves nothing “in their pocket” they may lose interest in the property, decide to stop paying all mortgages, and put whatever income they can into their pocket until they lose the property to foreclosure or one of the lenders obtains a court order prohibiting such.   

Very likely the seller doesn't know the income-producing value of those extra spaces and therefore has not included it in their pricing.

Thanks so much April in GA Carpet is good for sound dampening, but you may have to replace it after every turn over.

I turned it into a 2-bedroom apartment that now does not have a living room.  

Quote from @Bill Le: Quote from @Brett Synicky: Quote from @Rochelle Gerber: I may leave a current employer and therefore I believe I will be eligible to turn my 401k into a real estate investment product.

Leveraging strategic market appeal, we turned it around the same day, securing a sale at $160,000.

The forums are full of self-managing landlords who make little mistakes that turn into big mistakes that cost them years of cash flow (or more).If you want to be a DIY landlord, I recommend books, blogs, classes, or other resources to educate yourself quickly.

You do have time and motivation and muscle, but sometimes these turn into a lot more work than meets the eye. 

Commercial values can fluctuate greatly - I am a fan of time heals all wounds and if you acquire a commercial property and can turn it around I believe there is still money to be made. 

There's nothing left to cover expenses so you better have deep pockets to cover maintenance, admin, turns, etc.If you think you can quickly improve rents to a point that covers your expenses and pads your pocket a bit, then maybe, IF it hits your return threshold.If you're buying cash, then the mortgage is not a factor.