The property has a value add component to it, so I am trying to tour it virtually with contractors.My question is regarding closing/purchase of the property!

Older neighborhoods with failing components are most likely to see a special assessment for things like windows, siding, roofs, etc.

Cash flow tends to be lower at the beginning, but our business plans always include a value add component.

I haven’t house hacked here but I do apartment syndications and am adept at underwriting deals with a value add and rehab component to the business plan.

Sorry for the late reply, it seems that the seller will be fixing the major components so I'm going to pass on a home warranty and, as a result, the home inspection.  

Could there be a escrow component of the  payment in there that is skewing things? 

I am exploring MF investing for a while, and this deal has all possible components of MF investing.

If this strategy isn’t as applicable to mixed use/retail, what value add components should I be looking for and if the strategy doesn’t apply, how can one grow their portfolio after the first property besides full private lending?

Spill the beans. don't know but what if there has been a 30k rehab done to it.. we see this all the time  you have a home that has been lived in for 20  to 30 years all the components are that old and ya I guess that sells for like you said a  35k price and its serviceable .but then you have a flipper rehabber buy it and do a top to bottom rehab for 20 to 25k  then sell and make 10 to 15k on it like all flippers do.. maybe that's what happening here..  

Frequently, the most difficult component of a 1031 exchange is identifying a replacement property within the first 45 days following the sale of the relinquished property.