The house must be in proper shape as well.

I want to do these things as long as I am physically in shape, I'll save the cruise ship trips for later.There are so many ways you can structure RE: eliminate what you don't like and forcus on the things that you enjoy.

I had wrapped my head around residential not around commercial, But to me the deal seems amazing - you guys tell me 8000 sq. ft building7 storefronts on an active downtown street (all rented and currently have tenants)34 unit mini storage in back lot (29 units rented - the rest of the unrented are being used by the current owner)Asking price is $798,000 and owner is ok with seller financingAfter sitting with them today the owner who is 83 said he is ok seller financing and verbally agreed to $715,000 and a 4% interest rate, 30 year note, $100,000 down payment, no early payoff penalty - my lender and real estate agent both came back valuing the property as it sits at $840,000Income = Rentals ($5075) Storage Units ($1935) = $7010speaking with the owner he hasn't raised the rent on either the storefronts or mini storages for almost 10 years - looking at comparables in the area we believe we can raise the rent and storage units easily to push the income up to $10,000 a month 4 of the 7 Tenants have been there 5 years plusCost = Including estimated payment, taxes, insurance ect. would come to a monthly of = $4450that would cashflow $2560 a month at its current with the potential after purchase and rent adjustments cashflow $5460 a monthPending an inspection the property looks in good shape with little to none improvements needed at this timeA quick background I have had rentals before on the farm we own, three houses we rented out so I have some experience) My QuestionsIs this a good deal???

The home is in good shape and would not necessarily be a good BRRRR because rental comps wouldn't cover the refinanced PITI (plus expenses). 

Miami and Broward have some of the stricter building codes and the 40-year and 50-year certifications are definitely a good way to make sure the buildings stay in shape.

Then you can simply have a 10 day window in between and because they left it in such good shape its a handyman for 1 day doing something like replacing blinds their cat destroyed or a few easy fixes. 

I just think if our local home grown folks are going to tear up neighborhoods and not keep them in good shape maybe its time to bring in others that might have a pride of ownership.Also to show you how the pendulum swings..

Another one is a yield - I immediately began receiving quarterly checks, starting three months after closing, but there isn't a huge upside since the place was in good shape already. 

There is age of building, design of building, parcel size, usable land, shape of the parcel, sightlines from the road, access from the road, any junior anchors beside it and large anchors behind it to drive interconnectivity on a daily basis.If the building is typically more than 15 to 20 years old you are not landing a national tenant for it.

My current garage is not in a good shape so I'm debating btw fix the garage or convert the garage to an ADU.