Must use a licensed contractor.203Ks: A streamlined version.

I've searched a bit and have not come across a post that quite fits an investment opportunity I have been looking into.At the bottom I put a cliffs notes version of the building/surrounding area (probably could have shortened it up, and maybe I'm looking at too many external factors - however let me know)My thoughts - building would be good structurally/mechanically - located in the downtown core - building is already built out into 4 offices and reception area main floor with a kitchenette/half bath2nd floor has 7 offices, 2 baths, 2 storage rooms2 entrances into the building, street parking on 2 sides, building is located across from the local courthouse(Could potentially turn the upper floor into a couple of apartments or one large apartment - rent for 800-1k a mo for one large apt, however rehab $$ would climb - city would be more than willing to change zoning for this and encourages this type of arrangement in the historic buildings - ie office bottom floor, apt top floor)$60k Purchase Price$20k Rehab budgetPotential gross income $2800 per mo (7 offices $400 ea)Guesstimated Pro Forma--  $33600        Gross Income - 7 offices $400 ea       (5040)        15% Vacancy       (2400)        Property Tax       (2500)        Insurance       (6000)        Utilities - figured $500 per mo/gas/elec/water- think this is high though       (1680)        Cap Ex       (4980)        P&I Pmts $60k loan 5.5% interest - 20 year amortization       (4800)        Janitorial - $400/mo - this would probably be lower----------------------------------------------------------------------------------$      6200        Cash FlowI think I could improve on the above cash flow, not sure the Insurance is 100% accurate, could possibly increase gross income if I have more than 7 offices etc.  

You sound like a younger version of myself!  

How many times have you heard somebody say some version of this statement: “We made 100,000 on the sale of our house and we only lived there for five years.

I revisit that book (audio version) every 6 months just to keep me from old habits. 

We unconsciously pursue society's version of success because its easy to do.  

You can find groups on Facebook (The Red Pill Investor Public Version comes to mind) that have thousands of members from across the country.  

My version is a list of items, which if 'not up to snuff' would be costly and jeopardize the profitability of the REI. 

In certain parts of Milwaukee, there are a lot of homes that could BECOME a more modern version of the old school polish flat style of living and would also double the units on a single lot.  

Now If the land has a decent well, electric service, and septic system you could potentially have something, but it did not sound as if the land was for sale.It would most likely cost more to move the trailer than a fixed up version could sell for.