One-year leases are very common in smaller spaces, as you're most often working with tenants in the trade industry that need a garage styled space for tools and equipment, some with a small 1-person styled office adjacent the shop.

Which if youve done flips , but not commerical multi before, you wont miss much,  however a 6 fam is a commerical code permit so there are slight variations between the residential code for essentially all trades which if you dont have a detailed plan and you dont double check every code before you do anything but rely on cheap labor to do your due diliegence for you, what could go wrong ? 

Yes, I can take cash out and try to invest in higher return projects, a sort of carry trade, but the reality is that increasing return on equity generally involves more risk. 

I'd appreciate your insights on balancing the trade-offs between initial capital outlay, monthly cash flow, and potential returns.Thank you for your expertise,Ricardo

Consult your 1031 exchange agent for guidance.Both the relinquished and replacement properties must be held for investment or used in a trade or business.

Going from MFH to NNN retail or industrial, you are trading one set of issues for another, though presumably easier issues.

After all, some of the best of the trade are also investors too.  

Although Reston as a whole has experienced this as well, with a 23.8% vacancy (Source) for the entire submarket, the Reston Town Center in particular has just a 4% office vacancy, with Boston Properties Group, planning to deliver another 1.1 million square feet with Reston Next.Boston Properties Group (BXP), is currently the largest publicly traded developer, owner, and manager of Class A Office property in the United States.

Half of my portfolio is OOS, and I haven’t seen most of those, even after 10 yrs, but I get trusted people to take pictures and I send specialized trades (plumbers always and sometimes electricians) during DD period.

Areas like Williamsburg have small multi-family properties trading at a premium when compared to Bushwick, Bed Stuy, Ridgewood, and surrounding neighborhoods.