Of course, prices are high, rents are low, and almost all owned by same seller (whom owns them outright and seems to keep rents below market... probably depressing the market a bit). 

I'm heart broken right now cause sellers just decided to cancel the house right before the closing, our closing supposed to be on September 8th and I'm really sad depressed right now, agreement were already signed by both buyers and sellers the inspection were already done even the bank said okay to buying the house. when we asked the sellers why they canceled the deal they said because they has to pay IRS 40k and Government blocked the deal and they can't sell itis there anything I can do cause we wasted 3 months of time and $200 for inspection and we'v also did the insurance for the house.

For instance in Washington state they seem to have really chosen dumpy depressed areas which will be a challenge ti take advantage of; while here in neighboring Oregon they have designated some very mixed areas that seem to provide some real juicy opportunities for tax advantages.

It was very depressing and monotonous.

I was literally depressed for about two weeks about losing this one.

This is a personal decision that varies by investor, but I chose commercial for the following reasons:1) I wanted to stop leasing office space for my accounting practice.2) The thought of "$100/door" as a metric/goal for residential was depressing.3) No calls from tenants at all hours of the day/night.4) Easy to evict.5) Commercial is much easier to force appreciation than SFR.

Ideally planning to buy and hold in an area with stable and rising rent prices, but flip in a depressed market.

Top 3 reasons I like commercial: 1) $100/door/month is a depressing metric. 2) Long term leases.3) Forced appreciation. 

Seems that these are often ridiculously cheap - but I'm thinking the market knows more than I do and they are cheap for a reason.Churches are often beautiful buildings in great shape, but are very awkward to convert into a SFH or apartments.Schools tend to be large projects requiring significant resources to remodel into apartments or senior facility and can be either in decent shape or quite run down.Masonic halls are often very similar to commercial buildings but usually need a lot of rehab.Also many of the bargains are in economically depressed or low/no growth areas.But still the price on these can be so low that getting positive cashflow should be easy.And there may be LIHTC (low income housing tax credits) available - anyone managed to snag any of those?

On the other, many tend not to do much business outside the building and might not have a pulse on the rest of the market (particularly when it's been appreciating) and keep prices depressed.