The interest rates and terms seem pretty attractive.

As inflation rises, note investors need to take a closer look at their costs. This is why it is first and foremost critical to understand the costs of owning a note.Things like legal fees, servicing, and insurance are...

Once you have this team in place, you should be able to invest in any market confidently.As for picking a specific market - I would go after one with an increasing job and population growth.

(Other rooms too I’m sure) The options may not be as attractive and appealing on a flip as we see them for our apartments but I know our tenants love having the $35/month electric bills once we get done installing the LED fixtures throughout all the units we rehab.

Your contract increases the value of the property.  

Fifth, elements outside your planning or control can increase expenses significantly; tax increases due to budgetary shortfalls, insurance costs doubling due to natural disasters, tenant damage beyond what the security deposit will cover.  

Given that this will increase the scope of renovation significantly, I have decided to narrow the scope of the reno at this time.The commercial space is approx 1600 sq ft so its decent size and is enough for a storefront by itself.

However, there may be increased tax complexity and formation/maintenance costs.

By building a home, you have the potential to increase the property's value, which could allow you to sell it for a profit or use it as a rental property to generate income.

And, to follow the lead of a newbie will surely lead you to increase risk and liability.