The acquired building were over 100 years newer and had more modern/desirable features like central air conditioning, integral garages, and fireplaces.Another time I 1031ed property in a distant town for property much closer at hand and easier to manage, it also commanded higher rents.

It is my understanding you do not use rate of income until you hit 5 units and it becomes considered as commercial property.

A mature property may command increasing market rents for 20 years or more as well.

Here are my files http://www.biggerpockets.com/files/user/REISkills There is a file "Option to Purchase Agreement" there.

I am excited to joking tons of other site users.

It can command around $1500/ mo rent.It is a FNMA REO and they are asking 200k.

Real Estate Rewind Starting over http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book Good luckPaul

I can confidently say I'm going to be a long time user.

To all the newbies here is the guide, please download and see what fits for you, but if you want to start, start by reading this manualhttp://www.biggerpockets.com/files/user/brandonatbp/file/ultimate-beginners-guide-to-real-estate-investing

There is a real possibility that the value of this property is the value of the land, less the cost to raze the existing structure plus any possible resale value of the equipment.If there is demand for a restaurant, it might be worth more to the right person.If the building can be reconfigured for some other user that might add some value, too.