@Jordan Gregg Id agree with @Darren Sager I think Bloomfield is a smart investment just make sure you market your rental to the right clients and make sure that its upgraded to attract that commuter (don't over update though) I bought a SF that Im going to rent spring of 2019.

It's a veggie according to a produce guy and a fruit according to a botanist.

I am attracted to the stability and passive income potential of buy & hold investments.

This attracts more tenants rather than drive them away while their previous landlord is still holding eir security deposit. 

I bought two cabins with it that have been producing $75 to 85K a year since 2013, so it was worth it.That doesn't sound like the situation that you are in.  

(We have fixed up 3 houses now and primaries not fix and flips and really enjoyed it) my job also works 1/2 the year so I have plenty of free time for rehabs.Option 2, just purchasing a long term rental with the cash out but this will produce a negative cash flow due to the cost to rent in the springs area and $0 down.

The new builds tend to attract better-quality residents. 

But the nice thing about a commercial property is that you do have control over the value of the property. buy-out costs have to be baked into a business plan along with a clear understanding of what the property can produce over a given timeline. $2.2M for 12 units could be a really good deal in a good location with the right plan or it could be money pit and the end of an investor if it is in the wrong place or a bad building.

Leverage allows RE to produce inflated returns.  

Downtown is making a huge comeback, attracting lots of new businesses and generally going through a revitalization.