If you did not have a business tenant the space would be vacant.There are some businesses that own the business and real estate and choose to (sale leaseback) offer a lease with terms they want to a perspective investor buyer.

Choose your roommates wisely, and dont rent to friends.

I'm hoping to get some feedback on the step by step method you would take as a newbie choosing a neighborhood and analyzing that market.

Agents do you choose your office location based on the area you want to work in or whatever is closest to your home ? 

Kansas City is a great cash flow market if choose the right areas. 

I think with single families you could get better appreciation prospects as well if you choose the right markets.

I choose CF every time.  

You'll get tons of other advice on out of state and everything else, so just wanted to throw that out there as a Bay Area investor/resident who has done it myself.Good luck whatever you choose ;)

Choose wisely!

In terms of who pays closing costs, unless you choose to do a double closing, rather than an assignment of contract, it will never be you.