I'm looking at building a commercial property, part of which I will use for another business that I own, the rest I plan to lease out to other companies/individuals.I had thought about buying and converting a building to fit my needs, but after doing research, I discovered that I could build a building to my needs for half the price of buying a similar sized building - and that's before factoring in costs to convert the building.So the question that I have for those who have built their properties is: Is there a guide or checklist that I need to ensure that I have things done in the proper fashion.

Its solid cash flow, in great shape, and I got it for what I believe to be a favorable price.  

You may be able to negotiate some good terms in your favor.

@Munir Hassan I’m not seeing really what you did wrong except like others said maybe work with an agent.Agents know other agents, it works in your favor if the seller is also working with an agent.

The flexibility, scale and tax benefits are more favorable in the commercial space.Over paying is a subjective term. 

I'm recently exploring other alternatives to the old fashioned idea of work, save, buy, rinse and repeat.

The terms will be less favorable for you being less experienced but you'll want to know what they are up front so you can factor them in when running the numbers.

And the best part.... projected rent can be counted in favor of your DTI!

I like @Theresa Harris’s idea it actually works out in your favor over buying it below market value.

These tend to be motivated owners willing to finance part of the deal to make the sale happen or close friends/relatives doing the purchaser a favor.