I’m a police officer out here as well so I see a lot of things first hand- there are some neighborhoods in Brooklyn (SI too) that are riddled with so much crime, drugs and violence that I wouldn’t take a house in even if it was free. 

Then out of 4,500 you pay any office fees,RE Dues,Advertising expense etc So you end up with 4000 . .

I am not sure that some folks with that type of liquidity should be looking at starting business's that they control and that would generate FAR more revenue than leveraging market rate rentals. 

I am a veteran and full time police officer so I've heard they have some special programs that help us out.  

The lender is a friend of a friend and has an office around the corner from Property 1 so I thought a relationship could be developed. 

I was a Peoria Police Officer for 13 years, my last 3 as a violent crimes detective.

The revenues made sense, plus I was able to get a small amount of seller held financing.

Commercial - I'm thinking retail, office, or larger multis- More risk since there is a higher cost of acquisition and dollar amount needed to get started.

The AirBnB revenue ranges from $800 to $1200 per room, but I would rather be conservative and play it safe.

The property and the bank were both down the street from his office.