Every contract can allocate these items differently.I would also factor in property tax allocation based upon July - June tax year.

So by the time you factor that in the 28k difference probably isn't worth it.

Your thought is pretty accurate there are other factors that would come into account like access to plumbing, electric, ease of accessibility for the work. 

While you can force appreciation through rehab, sweat equity, etc, buying at the right price factoring in all of the property's needs will set you on the right path.

Here are some factors to consider:1) How much $$ do you have?

You just may have to factor in a larger vacancy number for the retail spaces.

Unfortunately most investors do not factor this into their projections for business cash flow.

I think one BIG factor I missed is INTEREST.

Other factors that could effect what program you can qualify for is your Debt to Income and credit score.

Some of the credit cards they get you do not report on your credit profile unless you don’t, But you would be the personal guarantor  and they would look at your personal credit As a determining factor.