The retail space is being sold to the manager that has been working with the current owner/landlord but its name will belong to the new owner of the building, meaning if he fails the business I could resell it (he will have no bill of sale as he is leasing the equipment from the current owner and I would be holding the name of the business myself as the new owner).I'm slightly apprehensive about interest rates going up too much after the first fixed 5 years, as this would eat away a lot of my cash flow, or my taxes going up tremendously with the renovations and adding a third bedroom in two units.Any thoughts?

BP has a tremendous amount of information to help you, but it is only available if you seek it out.

There are many great members here on BP who are tremendous resources of information and will help you greatly.

BP has a tremendous amount of information to help you, but it is only available if you seek it out.

BP has a tremendous amount of information to help you, but it is only available if you seek it out.

BP has a tremendous amount of information to help you, but it is only available if you seek it out.

BP has a tremendous amount of information to help you, but it is only available if you seek it out.

= 11k11k - 8.5k (buying costs, 7.5k for purchase and 1k for closing (cash)) = 2.5k2.5k - 4.5k (selling costs, 4k for commission, 500 for warranty) = -2k35k - 24.5k = 10.5k (profit) - 2k (overages) = 8.5k (final profit)It doesn't look like the greatest profit, but my main goals going in to this is to not take a loss on this venture (hopefully making a bit on the way), and to learn a tremendous amount about the ins and outs of a house (myself and a couple friends will be doing all the work except for the carpeting, and plumber/electrician inspection).Please let me know what you guys think and if you require more info.

You are going to find that there is a tremendous amount of information here.

I saw a tremendous amount of foreclosures in this neighborhood during the crash.