If I find someone willing to buy it and I can make some money I'd then sell and just continue to the rent, pocket the cash and start a business venture thereafter.

That was barely 2 months after buying my own residence which needed a ton of repairs also, you could only imagine the hoopla I went thru with family for venturing in too many directions at once.

lalana, my advice would be to start small...i started with single family homes..only recently have i looked to expand into larger multifamilies...still haven't ventured to traditional commerical tenants and offices though..i prefer apartments bc someone will always need a place to live...commerical is a while different ball game

We have a full staff, leasing agents, office staff, maintenance manager, and service techs and i have a partner in our venture, but i would bet you that in 8 years i have had less than 5 days where i truly could "turn it off".

The problem is that margins are very thin so you really need someone to manage the project that also has a vested interest.I suggest joint venturing with an experienced rehab investor local to that market.

It is said that history tends to repeat itself and it is also said that only a fool would make the same mistake twice, so your guess is as good as mine.If we ever have massive RE appreciation rates in the double digits again, I would venture to guess such a scenario would not take place for at least another 2 decades or more, but I was wrong once before (wink, wink)Kidding aside, I believe that once we are over this "correction" and get through the massive amount sof lender owned properties, we will encounter a more steady and reasonable price inflation of RE.

Windows does not present good reinvestment opportunities because of the huge amount of cash it generates and therefore the profit-maximizing decision has to be to deploy it in other profitable ventures or return the money to shareholders.The subject of this thread is quite the opposite.

This is my first venture, and am working with a seasoned investor.

If I was in your situation I would look to form a joint venture with your cash partners where you are compensated your percentage when property is sold an they take title.

This will allow you to maximize your profits.But if this is your first multi-unit building, I would recommend partnering with a expert in this type of venture.