Your loan letter should include their average closing time and the maximum amount you qualified for.Another thing you should do before starting making offers is to have a new office location that is convenient and has a minimal distraction that will disturb your working.  

From a tax perspective, I wouldn't be surprised if your rental business "loss" money for the first ten years.

My wife and I live over an hour from the house so popping in wasn't very convenient and my father in law was not usually interested in checking on it so as long as rent was paid on time and the house kept clean we kind of let it slide.  

Clients are always advised of this upfront, and they're always surprised when it turns out to be true.

it wouldn't surprise me to hear that a licensed realtor/broker said it was illegal. 

I really liked the Pitbull's talk coming from nothing.I was surprised that many people signed up for the various classes. 

Invariably you get hit with a few surprises and things always take longer and cost more than what you originally anticipated.

Make an offer on it (even if it is 40% below ask) and say you'd be interested at that price point.I would be surprised if their commercial valuation is not severely flawed if it results in a value 40% higher than a residential valuation in the same area.When somebody refers heavily to small multifamily property as "commercial" it might mean the property actually has some preferential zoning that would allow it to be used as a business instead of residential rentals.  

Like @Vincent Incopero I would always prefer to overestimate and then be surprised by having less expenses.  

There is another thing you shoul consider before investing is to locate your office, just make sure it is convenient and has minimal distractions.