The payments may be amortized out over 15, 20 or 25 years, but make no mistake - if the mortgagee has no appetite to continue financing that asset, you are out.  

I will say, it’s not for everyone and everyone has to gauge their appetite for risk. 

Now, I can do a lot of things with the space, however, as it is dry, has a loading dock, is at least temperature controlled (might be climate controlled as the building has been used for document storage for a decade), and has a dry fire suppression system installed and working.

I am clear on our markets of interests, returns we would like to see and our risk appetite.  

We are also ensuring prices in the neighborhood aren't suppressed due to a RE "run."

How do health concerns affect everyone else's appetite for acquisitions?

Bring your appetite!

My accountant seems to be very knowledgeable & diligent, but it seems that the deeper we delve into the nuances & interpretation of the specifics of the tax code, the more unfortunately my tax liability increases.By the way, I should have mentioned in the details of my initial post that while we are 'buy & hold investors', in this specific case, the property was held for < 1 year - we sold into a market that had a voracious appetite.  

Just like anything else, diversify, have some STRs and some long term investments but that’s a personal choice that each individual investor must make for themselves as everyone’s risk appetite is different.

I'm a big fan of Dallas/Houston -- the strategy you pursue should be dependent on the property management resources you have in that market & your appetite for property maintenance (higher for STR's).