It used to be an automotive repair shop.

When I asked her about it, she mentioned that the rate is higher specifically because it "will be an income-producing property." 

I’m not sure if this helps but this may be an option for you.

@Megan Burns Would this strictly be an investment property or would you be living in one of the units? 

I find a lot of new investors often greatly underestimate the numbers, if you can actually get $100 net cashflow after vacancy, maintenance, Capex and all your other costs It may be an option to keep it as a rental, but then with the 40k down payment and 40k invested it could make sense to sell and buy anothet property that's got better cash flow.

You learn how to be an investor and immediately reduce or completely remove your biggest monthly expense (rent).If I was starting over I would have house hacked straight after college.

I wouldn't be an agent full-time.

@yan @Yan Kang far better to rent to an established lawyer than a law student :)  Yes you would be much more vulnerable and unable to be an intimdator in a suit, but you don't really want to do that, right?

*JOIN our new facebook page*“Emerging REI omaha”  On June 9th @ 6:30 PM we are excited to host our first rookie AKA "emerging" real estate investor & entrepreneur meet up at “The Table” coffee shop in the old market omaha(1118 howard St, omaha.

@Joe Splitrock THANK YOU, i have heard that argument in past but never understood the problem, why would it be different than letting the sink open for half an hour and washing dishes, i never heard this should be an issue