I was originally looking at one of the properties until I realized the owner is seller a portfolio and prefers to sell it complete.

I would prefer to wait until next spring so I can get it rented asap.

Go a couple times and look for repeat buyers.

Below are some quick tips about cash out refi vs HELOC/LOCCash out Pros-tax free money-low interest rate-fixed monthly payments unless you choose a variable productCash out Cons-closing costs (couple thousand)HELOC/LOC Pros-tax free -its a line of credit, hence you can use pay back then use again-usually NO closing costs on residential Helocs; there will be closing costs on commericial LOCs-commericial LOC is very fast moving as far as getting funding and refinancing  (Makes it easy to rinse and repeat)HELOC/LOC Cons-higher interest rate-variable rates-monthly payments depend on amount borrowedHope this helps,CB

I've spent the past couple months educating myself by reading books and listening to most of the podcasts on this forum but feel that having some guidance on making the first purchase would be beneficial.If anyone has any recommendations, I would greatly appreciate it. 

There are also a couple more near by from what I can see in aerial map views.   

Would prefer to be in Brevard area, but sometimes you have to expand your geographic parameters to find the best opportunities...good thing is that unlike most urban areas...just about anywhere from Highlands to Mt.

I want to avoid a balloon note and would prefer to do a straight fixed rate, 5 to 7 year loan to payoff the $1.25M and own the building free and clear.  

I had tried to start out on my own earlier this year, but lost money in a couple of deals due to lack of information and understanding of the market. 

I'm a newbie investor who has been looking for my first buy and hold property for the past couple months.