I talk to about 100 people a month interested in this space. 

I've worked in the commercial real estate industry for a few years doing capital markets, acquisitions, and valuation advisory and I want to start my own firm doing debt and equity placement.Does anyone have any advice on how to get started in this space?

The important things to consider are finding a single family on a multifamily zoned lot, number of parking spaces, number unrelated parties allowed in that city/county, and overall lot size (for future development).  

That would make the ARV $900,000 which is so far above market it is not even funny.One advantage for me to own both properties is the potential to build additional units on the combined property, that would be a long term thing but there is plenty of space between the two lots to add another 4 - 6 unit building.Any suggestions on how I should deal with this seller/agent?

If you have the time to space it out, it may be worth tackling one project at a time with different contractors.

Apparently I lucked out and three blocks away they're going to start a big development project that includes a ton of retail, office, and residential spaces.

I made a call earlier this year to a Realtor because I was having a heck of a time filling a small commercial space.

Property was built in 1974 and has 1,100 sqft of livable space to each side.

I’m very new to the real estate investing space and am excited to start my adventure!

For instance if you could put new cabinet doors on instead of whole new cabinets that might be good.Any time you can add extra living space from a basement or carport (unless you need a carport to keep up with the neighborhood) that too adds value to the property.