Ya........Military spending is 1/6 of spending, but there are large swaths of that budget that are NOT "military" in nature, including (of all things) research into treatments for autism, lawyers to provide guidance regarding 'equal opportunity employment' and I could go on, and on and on......

Should I value it around $110k because all non-foreclosures have sold around there, or much lower because of the foreclosures?

@David C. there are many things you can invest in that you and your wife might like better:1) Performing notes2) Non-performing notes3) Private lender4) REITs

Steve - as for the need to replace, two of them are completely non-functional, and I've had to put in window units to get by for the last couple of months.

I think we can all live with non-granite countertops!

There are sub-categories in the world of non-residential loans.

I have been reading non stop for awhile now and also out looking at properties in my town.

I am always up front with prospective tenants that security deposits are non-refundable prior to moving in (and after the become refundable assuming no damage to the apartment).

Until and unless you are willing to learn the factors that determine both the retail value and cost of repairs your street credibility is non-existent.

In Atlanta it's GA REIA, gariea.org, or Atlanta RIEA, or up N on 75 N Metro REIA.