The issue is how do we finance it and write the offer since there is a real estate component and business for sale?

Thank you all for the responses,Matthew, looking at a major rehab in West Woodlawn.

That being said, be careful because if things went south, it could result in a major penalty Might have been better to post a hypothetical question and a faux story to get the answerFHA loans are owner occupied, 5% down also likely owner occupied - read the contract Once you have 20%-25% equity in, you can refinance and go conventional I can't recommend either way for you, but I can say others have done itOnce your loan is conventional, I'd say you've got very little to worry about - the choice is yours

Would be my first major commercial deal, but the numbers look good. 

Comps: The closest comp on vickers ave (less than 0.5mi away sold for $262k on 1/23/19 and it's a smaller 2/1 816sqft).

This gets somewhat better if there's a value added component.

I think buying in volatile markets in 2019 (read: anything on the west coast + most major cities nationwide) just means you're paying someone else's appreciation check while helping them get out at the right time before things get softer.

Awesome I definitely don't want to run into major issues in the future I appreciate all the feedback longevity didn't cross my mind thank you another great thing to keep in mind

However, you should make an offer, get it under contract, get an inspection done, which will likely cost a few hundred bucks, but a small price to pay for locking down a good deal, and also a small price to pay for avoiding a major headache.

Or a better question is why are majority of BP members afraid of turnover ?