Details: Purchase price: $50,000Loan amount: $40,000Down payment: $10,000Interest rate: 6%APR: 6.404%TIP: 116.332%Monthly principal and interest: $239.82/monthEstimated Taxes, insurance and assessments: $292/monthEstimated total monthly payment: $532Estimated closing costs: $8,247 (+$10,000 down payment)Breakdown:Origination charges: $950Appraisal and all title fees: $1,862Recording and transfer taxes: $800Prepaid homeowners insurance and interest: $697Initial escrow (2X months Homeowners insurance + 12X months $250 property taxes): $3,000Other (buyers personal attorney fee $450 + Title-owners Title Ins $405): $855Thanks again so much for your time and input.

Since it is a total gut, then cap ex and repairs should be minimal.

I found great land for a great price that is zone properly and is included in the total cost I quoted above.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Total building size would be 2300 sqft minimum including common space, plus add a garage.

For example, fir, theft of power and squatters I look at it totally different.

In general, the commercial use should not exceed 30% of total gross living area of the property.

Obviously I can't secure both the bank loan and the syndicate investors with the same property.

Also at the very same time I was in the middle of refinancing all my properties (5 houses with total 30 bedrooms) a week before being let go from my employer(Good timing). 

Hey @Joel Senko @Joe Tomko is totally right!