2) Using our HELOC to supplement the down payment.. we do have some bonus payments coming at the end of the year we could pay it down plus the tax savings could help us pay it off, so maybe it would be worth it in the end? 

Currently a majority of the existing mixed use buildings have the commercial space shuttered with the owners just biding their time until the real estate prices make sense for them to rent out or sell - or they are just asking way too much in rents for any businesses to survive for very long.

@Chloe TaylorWelcome to the community and be ready for a huge amount of information at your finger tips.

Too many people are scared of townhouses and condos, but you are protected against a lot of the repairs of single-family or multi-family ownership.

This could lead to a huge tax bill and penalties at the end of the year. 

Purchase price: $242,500 Cash invested: $49,000 This is an older house, built well on concrete block, that is next door to multi-million dollar houses on the water.

It's ugly as sin, but it's in the closet and won't be visible often.

But I recently purchased a triplex in Tucson, Arizona, which I plan to manage from out-of-state.

There was enough cash flow that I creatively used a 3rd mortgage to help fund the 20% down on the first two loans.

I just want to give an overview of the characteristics of the city and people for the sake of adding any bit of valid information to your research.