Purchase price: $516,000 Cash invested: $600,000 Converted mixed-use 3 residential and large commercial space into 5 residential units and one mixed-use Building.

Using the appropriate amount of lights and mirrors is a pretty low-cost way to really make the space feel custom.Unique tile installation patterns such as vertical stacked or herringbone.

If you can get land for a good price and let's say build a modern quad with 1200 sqft 2 bed 2 bath units and garages for $200/sqft you are looking at about a million.

You have multiple people living in each others spaces.

You can get around that issue if you have a dedicated home office space that is used for the operation of your rental business. 

A smaller building that used to be a small community bank that could easily be retail space/ cafe.I will qualify for conventional financing for this property, but with interest rates being what they are, I'm not sure that's the best option. 

I wish we had more spaces like that here in Florida. 

In Franklinton there are plenty of large projects going on that will bring massive growth to the west side of Columbus, such as the Peninsula Development, which is a multiphase project that will erect a 24 story apartment complex featuring a grocery store, a multi use office space building, and a new hotel featuring a two-story venue. 

I am considering getting into this space (looking at some courses), but worried that its too late, and that deep local market knowledge/understanding of buyers/connection with developers etc is required to make this work, which only incumbent/long term investors will have and would be hard for a new entrant starting from scratch to catch-up...is my hypothesis valid in your opinion ?

Unfortunately, the previous owners used the same lease for this garage space as they used for the residential units.