If you don’t know what to do next, you have no plan and without a plan, what you are really doing is gambling.  

@Daniel Tisdale"Normally, I would absolutely run away"  What you are suggesting is that you are ready to supress your investing instincts and gamble.  

It's still a gamble though.

I'm actually the worst person to gamble with.

I can tell you from experience underwriting deals for a number of institutional and semi-pro investors that they have achieved IRRs greater than 15% and yields greater than 8% in markets like San Francisco, LA, NY, and DC that advertise 4% cap rates.Markets with low cap rates typically share the following characteristics:1) Strong rent growth, driven by2) Strong population growth, driven by3) Strong job growth4) Low vacancy5) High per bed rents (lower operating costs as a percentage of total rent)6) Good property management options7) Higher quality tenants (young professionals like myself will rent in SF until their late 30s to early 40s)To achieve returns in these markets, investors buy buildings with significant value-add or development opportunities on very low to no leverage (debt), and refinancing the deal after stabilization to cash out.

This is a business, not a gambling arena.  

This is really helpful and makes sense based on how you describe your market characteristics.

I live in S Fla so unless you gamble, just want management fees or are happy to park money... buying MF is not really happening ... right now it’s about waiting for nervous developers to capitulate in bulk or making deals with the loan to own lenders last in the door 

An off market commercial property that I recently became aware of has some interesting characteristics about the deal that I am a little concerned about.

The gamble.