Rocky Raccoon 100 is a classic just north of Houston which I've run the past 3 years.  

My classic 1932 style home was ruined when a pipe broke.  

Another possibility -  make this new primary home a duplex....and live in half of it (the classic house hack)....or if an SFR, rent out a couple of rooms.Probably 90% of RE investors started with one of the above steps before moving on to projects with a bit more risk (as well as more ROI).Best wishes.....

We've been having a ton of success repurposing massage envy's and single tenant bank buildings with drive throughs.  

The cars are Toyota, Honda and a few beloved restored classics, not Mercedes).  

Go for classic, so it doesn't become dated. 

This sounds like the classic, "nothing is possible".

My take is that this is an extra layer to the classic risk/reward tradeoff in the capital stack, with risk and reward (ROI in this case) going up from left to right.Before:    Bank     <     LPs      <     GPsAfter:      Bank < LPs(A) < LPs(B) < GPs. 

For example, if they want to get a $1,000 smartphone, they will skip two month's rent and two month's gas or electric, then pay all three later when the landlord and utility threatens legal action.A classic example: I had someone bum several hundred dollars off me last year, crying that she had no money for groceries or anything.

In my past life we had a bank leave as a tenant and had to repurpose the space (whats funny is the walls around the safe did not go to top of structure so you could have popped the ceiling tile and hopped over).