Building located in good location with plenty of parking.Asking price: $1,250,000.00Gross inc: 264,000.00OE: 120,700.00NOI: 143.000.00Maintenance appears to have been kept up and facility seems to be in excellent condition.Any thoughts about this and what I should be considering given my lack of commercial experience?

The trip of a thousand miles begins with the first step.Since you appear very new I want to encourage you to read the Learn section above, it is loaded with great info.

I would think if you own the property free & clear it would be easier for them to foreclose to collect their lien even if it wasn't in a super-lien state as they don't even have a first mortgage to worry about, although not a lawyer so don't know for sure.

Pre-foreclosure is the niche I want to learn and operate in but it appears that I still have much to learn.

They make a wholesaler or rehab investor's job that much easier.

It's also easier to ask for verifications before the seller or agent starts making claims, get that out of the way early on.

It is becoming easier to understand now:)

In SW Florida, houses that don't have major issues such as Chinese drywall appear to be priced about 10-15% below average retail asking prices.

What can you offer to make life easier on the experience person you are asking advice of?

If it's a fund or a REIT with a one person decision make and the money is already raised then it's easier.