Quote from @John Murphy: Before spending thousands on a course like Pace Morby's, talk to the actual members.

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.

The hard money 10% plus additional thousands in closing costs was too much to swallow. 

At one time, I told people to spend money on a skip trace so they could file the in personam QT lawsuit (the one where you can served lawsuit papers on all defendants) and avoid the expense of the in rem QT lawsuit (the one where you need a GAL).

If they’re underfunded, you could get hit with special assessments.Not sure about the exact contract with the tenants, but I assume if there is any additional assessment, it would be tenants’ responsibility.Since you want to stay local and focus on cash flow, commercial makes sense, but have you considered industrial or flex space? 

I had one overall criteria and that was could I create additional value and could it pencil. 

Spending the owner's money, not saying anything, and letting them discover it while reviewing the monthly statement is unprofessional.

The Creative Investor Meetup is designed for beginning to advanced investors who would like additional strategies when constructing deals.All aspects of real estate investing will be covered including (but not limited to) - Wholesaling, Flipping, Buy and Hold and Commercial with an emphasis on Creative Financing.

From a tax standpoint, there are additional disclosures to make when selling a business asset for less than fair market value to a related third party. 

Additionally, the price point is still cheap enough to find the 1% rule and positive cash flow and there's amazing appreciation potential.