Thanks Shadonna N.

I've been doing buy and hold and fix n flip in the residential market of Austin, TX and for the first time have a commercial property under contract for acquisition.

I set up with the local Max n Erma's to use a big room that they don't even open up on Monday nights to try it out.

@Shadonna N. that also makes sense!

They will go over acquisition costs and how they found it, what type of rehab they are going to do and cost and of course profit for flips or buy n hold strategies.  

Would you rent cabins to tenants, or is there more money in Air-b-n-b type rentals?

That's a great idea Roy N.

I too was getting similar returns as you when exclusively fix n flipping. 

Type of property: Three unit multifamilyLocation of property: Chicago suburbsPurpose of financing: long-term, with the intent to refi into a traditional loan when I have enough equityType of financing sought: FHACurrent or prior ownership of real estate: Currently own no other real estate.Occupancy: owner occupiedValue of property at present and/or your offer price: $330'sAfter repair value: $ N/AAnticipated or actual appraisal issues: Yes - Appraisal value is fine, but the appraisal lists two units, not three.Current rents per month: $2700Fair market rents per month: $3000Down payment or equity:  3.5% FHASource of down payment funds, if applicable: own fundsIncome Source: Salaried/hourly W2, Gross monthly income: $3,300Monthly debt obligations appearing on credit report, plus (if applicable) personal rent and alimony/child support/etc: Student loans: $250, car lease: $275, current rent: $950FICO: ExcellentCredit issues: noneAdditional details: 

Investment Info:

Single-family residence buy & hold investment in Lincoln.

Purchase price: $124,000

Cash invested: $24,800

Buy and hold single family that my brother and his friends rented while ...