The house is 3,700 sq ft and currently listed at $108/sq ft, which is well below the $135–$155/sq ft range for other homes in the neighborhood.

"South Minneapolis" is such a broad term - there might be as many as 25 different neighborhoods ranging from A-D class, each with their own pros and cons.

Lastly, looking to buy a commercial real estate deal either self storage or a mix use building in a secondary market with 6 cap and around $5m purchase range. 

The main issue I've come across is that everything in this price range would be cash flow negative.

I just randomly picked Cincinnati and looked for duplexes in your price range.

Approached the seller asking they pay all closing costs, received enough credits to buy down the interest rate back into the 5-range (current rates were in the 7-range).

We will use the high end of this range ($100k)   This implies the initial negative equity position is $150k  $150k (initial negative position)/$350 (cash flow) takes 428 months to recover the initial negative position (35 years).  

Jerry Norton is a predator scam artist every body dont buy his garbage.LOLThis guru debate will go on and on.An investment of time/money/effort is required in real estate investingIts the "success tax" or the "10000 hour rule" at play, we all have to PAY on the way to success  

So our PITI on the home is $4,020/mo.Keep as rental- Market comps suggest a wide rental range - $3,800-$5,000+.

Rates will be a little higher (5%/6% range) but the cool thing is that you can often find these on 30 year fixed terms unlike the short term balloons the local bank would offer.