That’s a great approach—sometimes slow and steady is the best way to go, especially when it comes to managing costs and avoiding unnecessary debt.

Is this best approach? 

I got sold on the no money down approach back almost 10 years ago when I first started looking at REI. 

As a newcomer, I’m eager to learn and would love to hear from the seasoned experts in this community.If you were starting over today, how would you approach getting into commercial real estate in Minneapolis?

Building relationships with local business is still a very successful approach.

There are several reasons for his approach.

The purchase price was good, the ARV gave it a healthy budget for rehab How did you find this deal and how did you negotiate it?

Amazingly, it is apparently nearly impossible to get decent comps for this so I'm not sure how to approach figuring out whether to outright sell it (and for what price), fix it up as a rental, or market it as a knockdown for the land. 

A few things to consider when starting out:1) Be sure you have liquidity for the down payment, but also a healthy reserve account, since unexpected costs will come up while owning real estate. 

That made all the stress and anxiety worth it... the difficult tenants/roommates, constant noise, roommate drama, and lack of peace and privacy.This approach reflects the balance between comfort and profitability that Craig Curelop discusses in his book, The House Hacking Strategy.