Wish you well and feel free to connect with me for unique discounted deals in Miami-Dade.

Remember, as a wholesaler, you're targeting motivated sellers with equity who will sell their property at a discount.

So that leaves you with a potential upside of 15K (the 40K discount on list less the 25K repair costs).  

the 2 store fronts also share a bathroom that conjoins in the middle of building.

Well I bought an office in a condominium - The tenant decided to stay  and I really like the fact that  the condo takes care of the outside and all I have to take care is the bathroom ( there is no kitchen )  - So unless the toilet breaks it is maintenance free.

I would also be careful planning for the family contractor discount as if that doesn't work out, how much do you have to pay someone you don't know to do the job?

you have a great opportunity with your background, if you can do work for other investors, learn what they do, and watch their successes and failures, seek out the more seasoned folks, even if your working at a discount, it may be worth it to learn on their dime.

does anyone's note servicer include the discounted portion of principle repaid on their 1099-int?  

Based on the type of issue I don't want to take a discount because there could be huge unknown costs involved and I might not get enough discount.  

Buying distressed assets at a discount and then adding value via remodel is another important way to get better returns.