Learning that this is a very different animal! 

Here's some food for thought:Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

As a Firefighter and Real estate professionals, I would contact the Tenants Property and Liability insurance provider to cover the difference.  

In some markets and at certain times, it may not make a significant difference compared to the time and money you would put in to do the rehab.* To the same real estate professional, find out their opinion of the area and the current and potential growth and appeal of your property and the neighborhood (market) to potential buyers and renters.

(I had to read up on what the hell a bridge loan was)I guess to start out, anything I should be immediately aware of that's different with a 5-unit commercial as oppose to duplexes?

Not sure your point, if it's a good deal the PROPERTY/ CONTRACT same thing, will sellAll the best Your comment: "Not sure your point" "PROPERTY/ CONTRACT same thing"Not to contradict you but they are very different.

This certainly clears up a lot of concerns the noobies entering the notes space have.keep in mind this is Specific to California and each state is different.. for instance Oregon you may not fractionalize a note I learned the hard way on that one since I spent a decade doing them in CA It did not even occur to me to check with Oregon regulators and they hammered me and gave me a cease and desist.

Just another way of saying commissions are negotiable or different commission packages lol

As a seasoned real estate agent with five years of experience under my belt, I've had the privilege of guiding numerous clients through their own investment journeys.

I primarily delt with non- performing 2nds, they prefer performing 1sts, so it's definitely a different animal,  but manageable.