Payments are too high compared to rent. you're over $650 per month before maintenance, property management, capital ex reserves, etc...

I live there for almost 20 years  in the 80s and 90s  and really enjoyed it but was forced to move  for employment purposes .

It's a completely different process for appraising, loan origination, and ownership structure between residential and commercial.Commercial is based off income the property produces, residential is based on comparable nearby properties.

Compared that with San Antonio (like areas around 1604 ring), where you can get much better houses (newer, cheaper), but with low rents too, because there are so many. 

@Julian Joseph The purpose of going to a Tier1 school rather than a state school is to network and make lifelong valuable connections for advancing in your career, with the side benefit of hopefully gaining a superior education.

These are business purpose loans, not consumer credit.You didn't mention your relationship with this individual or their experience.

The price per unit simply allows you to compare it to other nearby sold properties. 

Certainly affordable compared to market rate, but still not quite affordable by federal/governmental standards.

A few weeks ago I went to a REI meetup but was kind of disappointed when I arrived and sat thru a presentation where they talked about financial freedom trading time for money then offered to sell me their education for $20k and from what I've seen that is pretty cheap compared to some others.

Concentrate on investing in multi unit purpose built B class properties.