Modest cars?

Because I have mortgage debt I pay monthly, plus maintenance (primary residence is a co-op), but I have no consumer debt.

With that being said, I think you should decide how involved you want to be involved in real estate investing (Rehabbing a old distressed property is definitely more time consuming than purchasing new construction property, especially if you have no experience rehabbing houses)  I think the 3 biggest factors for you should be.1.

It is a lousy rental in my opinion.When it is fixed up, how much could it sell for to an end consumer?

Although it may be a lot of work being 100% owner, a lot of time consuming tasks can be outsourced pretty in expensively.

Appreciation in Ramsey county is more modest than its neighbor to the west, but still alright.

Finding the right fit tenant is harder in commercial, but the leases are longer term, and renewal more sticky than in residential.In general I find my commercial properties to be very time consuming during vacancies, but otherwise easy to systematize manage once tenants are in place and things are normalized. 

Currently my payroll is set up where we each receive a (very modest) salary. 

Increasing job numbers, net positive migration, growing wages, growing rents, and modestly increasing housing supply.

I make a modest income from my job and have been able to max out both 401k and Roth IRA contributions for the past two years.