I live in Auburn Alabama and the market here is pretty crazy so I have been looking at surrounding cities like Montgomery and Birmingham that are bigger and more affordable.I know that the typical down payment someone’s needs for commercial is 25% so short of me getting seller financing, or a partner, or some other creative finance path my purchase power leads me towards properties that are typically in lower income areas- at least for the ones I’ve spotted. (200K ish) I’ve listened to pretty much every podcast multiple times and often hear people saying that when they begin they focus more on cash flow and as they grow they look more towards appreciation opportunities.

I personally don't see a huge difference between the Historic District and the surrounding area.

There are still markets in the United States that allow either the beginner investor, or the seasoned expert to invest at low price points in B class neighborhoods.As real estate prices have generally recovered since the financial crisis, there are still pockets that remain, where if you know what you are doing you can purchase a home for between $60,000 - $100,000 in a solid B class area with infrastructure supporting a tenant and home owner demand (Just ask all of the Midwest folks)These homes range from 2 bedroom, 1 bathroom all the way up to 4 bedroom, 2 bathroom and even duplexes.Price sensitivity is important for many reasons.

We have a great handle of the city, and my day job allows me to travel to all of the smaller communities surrounding it.

Blowing in insulation to the attic on receipt will pay for itself.If it is a masonry structure there can be a whole host of nightmares surrounding deteriorating brick, especially around windows.

Looking for any seller financed deals in North Carolina or surrounding states.

I wouldn't buy it unless I had some other properties / infrastructure in place.  

My recommendation would be to look at surrounding communities that can provide you a good balance of both investment characteristics.  

I'm an investor from Maine who is beginning to source deals in Pittsburgh and surrounding boroughs.

I'm an investor from Maine who is beginning to source deals in Pittsburgh and surrounding boroughs.