Smaller 4 unit deals the land should not be any more than 25% of the total retail value of the property.Larger buildings 100 units and up can be $10k - $35k per door depending on the type of building.Urban locations can be $100k per door and up depending on the market you're in.

While doing so, a separate piece of the financing (PACE loan) was deemed unattainable and it tore the original deal structure apart.

If so, do strategies differ based on niche of investment (Multifamily vs retail)?

Respectfully, your mentor should have taught you look for deals in the wholesale pond (off market properties) instead of the retail pond (listed properties).

While looking I stumbled across a building that has a downstairs retail space with 3 apartments above it going for $234,500 .

Multi, self storage, retail, etc?

They have access to wholesale rates which are lower than the retail rates you would have access to.

@Cathleen Ohannigan I would not go into a flip with that thin of a margin unless it’s simple cosmetic retail flip.

You need to find a house that is at about 70% of retail after all rehab is done in order to do a full brrrr.

Used to see this all the time looking at buying retail properties, where the seller would give out pro forma numbers and be cagey about actuals.