You also are required to put 25%-30% down and larger reserves are required and the building itself can cause issues if it has vacancy ratios.

It's a great way to build a cash vehicle that you can tap into at any time and the money will continue to grow for you even while you're accessing it.

Are people building in the area? 

I have a different LLC for my commercial buildings vs the rental houses/apartments.

You could probably live for free, build equity, and save more for your next purchase!

I have additional space on the lot where I think that I could build an additional duplex or maybe two small single family dwellings.

So, without getting into the weeds, you could buy a fourplex, then build 2-3 ADUs for rental income.

Purchase price: $2,225,000 Cash invested: $350,000 Purchased a 40k sqft ft mixed use building on Main st in Middletown, CT.

If you have not run your own business beyond real estate before, I strongly recommend that you get in touch with SCORE (Service Corp of Retired Executives) at www.score.org.They are a free resource (part of SBA) that will help you to evaluate the financials of the company you're looking at buying, build a business plan and to understand what you're getting into. 

Not even talking about accepting non-accredited investors, which they don't.I am okay with a new firm accepting non-accredited for their first 1 or 2 deals while they build an investor base.