This kind of building I'd bet would be cheaper to build than to buy an existing building to convert.

Crews cheaper?

This would be much cheaper and safer than all the excavation required rebuild the wall in it's current location with the home right next to it.

You're borrowing money when the money is worth more and you're paying off the loans with cheaper dollars.So, in general, yes, your thinking is spot on...though if it ever got as bad as that guy was claiming, things would probably be more complicated than that...

I could feasibly use this money for flipping or buying cheaper rentals in Stockton, Las Vegas, or Palmdale/Lancaster.

IMO, there's alot of opportunity that is cheaper right around you.

How can you do things better, faster, cheaper, with less risk, and ultimately more profitably?

Yeah I just can't bring myself to buy a new car.The car insurance,car payment,depreciation just makes new car one of the worst investments ever.Some of my friends say "But I have to have a brand new car so I have reliable transportation to get to work".It's a cop out and there are plenty of cars not brand new that will work.People want to justify making bad decisions.I am a car guy myself and my first business was a car audio shop so I can fix most of the stuff myself.My brother also owns a used car dealership and can get me awesome cars at the private auction for cheap.What I care about is the mechanicals.The paint and interior is cheap to redo.I look in the paper sometimes at new cars and can't believe the prices they are asking.If you bought a new car it's like someone beating you up and taking thousands of dollars once you drive off the lot.If you want a newer car you look for the sweet spot of under 50k miles that is 2 to 4 years old.Those vehicles have depreciated hard but still have a lot of miles on them to go and you can still get good financing.Those vehicles go fast so you have to be ready to act.I have always wanted a Ferrari but I think it would be cheaper sometime just to rent one for a few days and get it out of my system for awhile.

It may be cheaper to work with them and/or exercise their rights of redemption, especially if they have any equity left on the table.

Most likely cheaper to convert office space rather than rebuilding .At the same time there is the trend of less people working in traditional offices .