Turnkeys are something I am reading on but the cost of it isn't appealing. 

Not even set on wheher to go for a flip or buy and hold as both are equally appealing to me.Anyway, looking forward to learning all BP has to offer and hopefully make some connections in the process.

My understanding/impression is that most of the 15 tenants are in the 700-1500 sq ft. range with the largest space being 2200 sq. ft.The Office Submarket looks as such: Flat capital growth and lease rate growth since the recession13.7% average vacancy rate in submarket 3 star (10.9% across all level properties)Availability rate 13.9%12 month net absorption SF 227kAverage 12 month sales Cap 7.7% (across all star properties)0 new properties under construction or to be delivered in the next 12 months Average lease rates are $22-24 sq. ft (this property is about 21.5-22)Value add (seems to be a stretch but might be):Upgrading interior hallways and exterior for a broader appeal and capital appreciationOffer basic build outs to interested parties (not something the current owners do) Working against the office submarket in North NJ is a declining population.and high property taxes but the 2 star being at the bottom may be better equipped to handle stagnancy.This building is on main road with a15-17k car count a year/ does provide signage is near retail and less than a 1/5 mile off a highway exit and is close to a city center.  

We'd also like our privacy so getting a SFH and then renting out the spare bedrooms does not appeal so much either.

I don't think it would cost much to "repair" anything, maybe to improve the appeal of the home through some visual upgrades. 

If you're at all good with aesthetics and brand you can build a tiny house bungalow or renovate an airstream.

There is a way to do an informal appeal and then an actual appeal.

I submitted my appeal and heard back from the reviewer with additional questions regarding my expenses ("seems the expenses are higher than average for comparable properties"). 

The last thing you want to have to deal with is spending money to improve the overall value of the property, and then minor aesthetics and details are missed, which add up; ex. painted over light switch plate covers, or stairwell railings which have been painted over several times and never correctly sanded down, etc - gives it a look like it hasn't been done correctly and can decrease the value of the place.

I was thinking to put together an Investment Offering of sorts but wanted to get initial feedback from others on whether this is something that would be appealing as an Investment Offering or not.