The retail space is being sold to the manager that has been working with the current owner/landlord but its name will belong to the new owner of the building, meaning if he fails the business I could resell it (he will have no bill of sale as he is leasing the equipment from the current owner and I would be holding the name of the business myself as the new owner).I'm slightly apprehensive about interest rates going up too much after the first fixed 5 years, as this would eat away a lot of my cash flow, or my taxes going up tremendously with the renovations and adding a third bedroom in two units.Any thoughts?

I am currently working in the oil field as an equipment operator.  

Hi Wayne,Sounds like you are well equipped with your background.

Once you formulate the details, you'll be better equipped to make final decisions.   

Too many elephant hunters that are equipped with a sling shot, begin at the beginning and learn your way up. :)

Are you just going to use this for storage or will you actually be using the equipment in this garage?

.- We get in touch with abatement company, get an estimate, they start work after dry-out company removes their equipment.- Insurance claim is denied, we agree on price with abatement company, they finish abatement, we pay them.The dry-out company had our claim number, but since that claim was denied, we don't want them to put a lien on our place or think we're dodging them.

Deborah is probably much better equipped to answer your question concerning this.

Equipment gets old, interior space gets old, food costs or rent go up and now you are at break even.That is why the larger businesses make sense that have 200k plus profit a year.

So, ask yourself IF you are equipped to handle that work load OR would you rather invest your energy in building your business first?