You are making the classic mistake of assuming that in order to take down the next deal you need your own money.

I would not mind paying fair market value based on NOI or even a little more because I know better management will bring much higher profits and I plan to repurpose some of the land, which is frontage on a very busy commercial strip, to commercial.  

After about a week on the market, I had an offer…BUT…as a first time landlord, I made the classic mistake of not properly screening my tenant.

The on-site house is interesting to repurpose.  

Repurposing real estate is a secret fantasy of mine as well.  

You're finding a lot of old brick and mortar being re-purposed.  

I have a classic dilemma: rent or sell?

I use IG but not for RE purposes.

It was your classic story of an older owner under renting the units and not keeping the property properly maintained.

Any ideas on how they could be re-purposed, rented etc...