I am currently in discussions with an owner of a three story property with ground level retail tenants and two stories of vacant space which was previously multifamily.

I think everyone is a little different and you need to go at your own pace.

Let's keep this discussion about our non-investing clients / retail clients.

Net out the rents and you're looking at a retail price for units at around a 5% CAP.

I think your best hope is the find that fixer on a nice street and shoot to pay a little below retail.  

If your message has a little more copy it probably will generate less calls but they may be pre-screened, i.e, they know they are calling an investor who won't be interested in paying retail. 

(Retail strip centers, large office buildings, etc.).

Unemployment 5.1%, economy growing at a 2-3% pace, low inflation, etc. but the major difference between now and then is the absence of no-doc or "liar loans".  

In fact my wife and I travel extensively so I'm not sure what he really means by "hands on" but I will be finding out when we meet to explore the opportunity in more detail.But it's a very successful property management company with lots of prime residential, mixed use, commercial/retail and even some mobile/manufactured home parks/properties in the portfolio.

I've built and sold a lot of luxury homes, mid-priced homes, apartments, townhomes, condos, retail and office buildings, and hotels.