My goal is 50 units as well but over a 10-year span.

A commercial property with a 39 year tax life that has a significant amount of assets that can be pulled out that have 3, 5,7 or 15 year life spans can mean higher tax reductions during the early years with much less depreciation later.

On top of that, lien certificate has a life span.

Much more of a time commitment than the hour or so of content. 8 years seems common for host spans.

Hi @Sabrina Perrino I could write all day about this but to keep it short and just have a couple quick points, cashflow does not equal total return and secondly in a place like SD vs a "high cashflow market", rents here will rise a lot faster and one can make more cumulative cashflow over the span of 10, 20 or 30 years starting off negative than actually starting off positive in some markets that don't have as strong of rent appreciation. 

I haven't seen the foundation yet, I am assuming the piers are similar to the mid span piers of a crawl space, but there isn't a perimeter wall.

Nobody knows what the reinforcement inside the gradebeam consists of, so nobody can do anything other than guess, based on their experience with similar stuctures in the area, what the maximum span between the piers can be before the grade beam collapses.

Unless I'm reading the it wrong, it sounds like these would be the appropriate code sections for the beam/girders and that in terms of sizing the engineer is correct.https://codes.iccsafe.org/public/document/IRC2015/...R404.1.9.2 - Masonry piers supporting floor girdersR602.7(1) - Girder Spans and Header Spans for Exterior Bearing WallsR602.7(2) - Girder Spans and Header Spans for Interior Bearing Walls

The first one, spanning 27,000 square feet across three stories, was only 30% occupied in late 2018.

I've read it can be done off of historic cap-rates, but a neighborhood can develop a lot in a 5-10 year time-span, so using historic rates doesn't sound particularly accurate.