Today, I used those proceeds to purchase a 5-unit commercial retail building without coming out of pocket at all.

If rent is 1500 per unit, well, now you are $6000  (1500 * 4) in deficit right from the start.

When you posted your review, we assessed the unit to see if there was evidence of mold, urine or any other health hazard.

There was quite a bit of unused land and the zoning gave me some flexibility if I wanted to expand various aspects of the property.Also the self storage units were all below market rent and the seller was willing to finance at a decent rate with a 5 year balloon.

@Abby Blumenfeld Very cool!!

I would build the big house and do a cool deck out towards the creek.

I utilized those funds to purchase 18 rental units.

You could get into a solid multi-unit or a single-family rental with real cash flow instead of hoping your Katy rental eventually fills.Not saying you should walk just yet, but if leasing drags out longer than expected, would you consider selling and reinvesting somewhere with better returns?

Those are desirable areas where a nice 3 bed 1 bath unit can rent for 1,200 all day long.Don't fall victim to the pro formas showing New Haven and Hartford to be these amazing places.

Investment Info:Small multi-family (2-4 units) buy & hold investment in Cleveland.