First, you can't take advantage of the economies of scale like you can in a bigger facility....meaning that as you expand, your revenue will increase faster than your expenses which will have a positive effect on profit. 

Does anyone have any similar positive or negative experiences they could share?

It could be put as (part of) a down payment on a 600k triplex that would net roughly $500 a month in positive flow.

I am finishing up my last year school and I'm looking into commercial real estate positions that will allow me to gain the right skills I need in order to become a developer.

If I do a conventional, then I would look to do a HELOC in a year to reduce the property's equity position and put it toward the down payment of a second property.

Steven, sounds like you're in a very good position. 

I am trying to get a 52-unit under contract with the same BRRRR strategy in mind for a re-position from a Class C to a Class B. 

If they can't pay two mortgages, they likely see it as a HUGE positive that they can change tenants while *hopefully* not losing any rent to vacancy and not having to repay SecDep.  

If I were in this position I'm not sure I would complete the deal honestly.

We would offer around $80k and he owes the bank $220k and the house maybe worth $130k in its current condition.On a positive note, some other people that called back were other current investors who are now in my contact list.