not for me, too many horror stories with this type of investment- if you dont have bug and noise complaints then you have structure issues(and I'm a builder) dealing with multiple tenants and guests etc. a large condo was just vacated after this last hurricane in the front area where our homes are located and it was caused by structural damage "from the hurricane" but once they uncovered it it was a failure to maintain that resulted in some almost catastrophic damage. not for me, if you do it, spend some good $$ on a structural inspection- literally will make or break the bank among other things!

It’s so nice to be older and not have that macho ego on my shoulder as often  

I plan to rent or sell this property when I move again.Anyway, thanks for reading and I look forward to working with you all to uncover whatever our dreams get us to.

The facility has a large uncovered arena and is attached to a state park with riding trails (big advantage).

I have a lot of experience on the design and construction side, but I lack experience on the finance side.I made several errors up front:I overpaid for the propertyI underestimated the renovation cost (uncovered several high cost necessary repairs)I didn’t (and still don’t) have a clear strategy for how I can refinance to pull some of my personal capital out of the property.Overestimated rental incomeSome positives with this property and experience:I learned a ton during this process that I would have never learned in a course or reading a bookAppreciation: The neighborhood seems to be up and coming.

They may be insolvent and it just hasn't been uncovered yet. 

Generally means a property has been bought cheaply, sometimes in a not so nice neighborhood.

It will all depend upon what the Phase 1 uncovers, if anything, and then the lender may want (or you may want) a Phase 2 performed after that. 

Again, it really depends on the person and what kind of background we were able to uncover.

I have uncovered a lead on a commercial building, that would be prime for a conversion to apartments or condos, but it's so far over my ski tips (expensive), I'm not sure what I can do with the lead.Backstory - last year I connected with the owner, and we had deal for a separate 4 unit, seller financed building ,that he ultimately decided to keep.