I had wrapped my head around residential not around commercial, But to me the deal seems amazing - you guys tell me 8000 sq. ft building7 storefronts on an active downtown street (all rented and currently have tenants)34 unit mini storage in back lot (29 units rented - the rest of the unrented are being used by the current owner)Asking price is $798,000 and owner is ok with seller financingAfter sitting with them today the owner who is 83 said he is ok seller financing and verbally agreed to $715,000 and a 4% interest rate, 30 year note, $100,000 down payment, no early payoff penalty - my lender and real estate agent both came back valuing the property as it sits at $840,000Income = Rentals ($5075) Storage Units ($1935) = $7010speaking with the owner he hasn't raised the rent on either the storefronts or mini storages for almost 10 years - looking at comparables in the area we believe we can raise the rent and storage units easily to push the income up to $10,000 a month 4 of the 7 Tenants have been there 5 years plusCost = Including estimated payment, taxes, insurance ect. would come to a monthly of = $4450that would cashflow $2560 a month at its current with the potential after purchase and rent adjustments cashflow $5460 a monthPending an inspection the property looks in good shape with little to none improvements needed at this timeA quick background I have had rentals before on the farm we own, three houses we rented out so I have some experience) My QuestionsIs this a good deal???

Maybe it'll be better here:I'm a broker in Oregon and Washington, and I'm trying to wrap my head around wholesaling.

I love where your head is at, that is exciting and a great goal. 

@Jay Hinrichs hit the nail on the head here.

I can't speak to pricing off the top of my head, but check other rentals and compare. 

Are you searching for rapid returns, passive income, or both?

If so, it could still very much make sense.If this is simply new construction in a low-end area though, that's different.That said, if this area is rapidly improving I'd be much more inclined to buy some of those lower end section 8 houses than I would a new construction project.

When I found out they were renting the house out for $3,000 my head spun around.

When i was in Cleveland last trip I had a lunch with the Head honcho for all of Chicago title in the state and I went into detail about what her Chicago title does for us out west and she was not aware so I put her and the head person in Oregon together so they could start to come up with some customer service ideas I don't know if they have followed through or not though !!!

Off the top of my head, I will use these metrics as a quick rule of thumb:Light Cosmetic ($40-$50 x Sq.