I live in an expensive area in California, work full-time as an Accountant in the Food and Beverage industry and am a single mom.

I cash flow more than that on an $80k condo.Very good points and legit questions.I am going to call the accountant asap to figure this out.About the strict rental rules, the plan is to live there for a while (probably 6 to 12 months) because it is 5 mins from work and next to a family member that can help my wife with the kids (a toddler and a newborn) and it is in a great location (5 mins from Whole Foods, a big university, a big hospital, a huge mall, beach, Publix and 10 mins to Costco and a financial center).

But you do have some quality culture, good food, pro sports, solid economy, etc.

Just food for thought.

Hello,I just joined BP and would like to get your input on a deal my family is working on -My family is interested in purchasing a commercial property which has a small convenience store (gas station), saloon, to go food and one bedroom apartment.

If you are talking about a stand alone place with a drive through,a fast food place like Taco Bell or a burger joint seems to go well next to it.

you might also look into if permitted by county using it as a lease to snow birds as the average monthly price for a place to park is currently 500 or more plus electricity  as long as it has a good appeal and infrastructure  food for thought    30 k is a small investment for a chunk of good land   

Especially compared to other investments.For 6% cap I would hope you could buy something better, and less risky like a coffee shop, fast food or drug store in an area with better growth like the outskirts of Chicago. 

Refrigerator was left full of rotten food and had to be thrown out along with the broken stove. 

My 3 main selling points are that they cost less than a motel, they can do laundry, they can cook food.