I own a 4000 square-foot warehouse that has about 1/3 of an acre lot fenced in.

WA requires no license OR does so its not uncommon for a WA lender to jump into Oregon not knowing they need a license.

Just a case in point, the tiny apartment I live in (800 square feet) the mortgage payment is about 4000 per month, and the typical rent for such a place would probably be somewhere between 1500 to 2000 per month.

(For example, they have the square footage, lot size, or # of rooms incorrect.)10) The value of the property just simply isn't worth what you would have to pay for it.

What kind of cost per square foot are you seeing in Boise to build multi-family / townhomes?

I was told by some agent to insurance more than the purchased price, while others say that it is enough to cover only roughly $75 * square footage.

Once that is squared away you'll have more experience to explore investment property. 

At the submitted square footage you provided, that $2M seems wildly out of whack.

The next RE play is going to be building ammo stores on the interstate and state lines between CA and NV and Oregon and WA and ID..

Create rooms within existing square footage, look into ADU properties, etc.