Yes, but for a rental try to stick with the 15K or less in repairs..all in 48K or less good..I did a similar deal in 2005 but purchased retail..current tenant in place 7yrs..bank mort, taxes, insurance less than $500....go for it!

In this case the buyer bought a retail property, that was split into 2 spaces.  

Most agents are thinking "retail" not deep discounted distressed prices.

But the zoning also permits multi-family, straight commercial (service businesses, straight retail, or a mixed use combination of all.As for how it came about... we were looking for residential flip opportunities in the area and happened on this property the day a FSBO sign went up. 

Then again, if the property is going stale on the MLS (lest we forget the cordial 12-20% on the back end of the retail transaction)...  

Or becoming a real estate agent that works or partners with investors.Most real estate firms work with retail buyers/sellers.

so my first deal under contract turned out to be a really good deal. 2 bed 1 bath, I got the property for $15000, $200 a month owner finance.

Houston's RE market is hotter than hell, and it is difficult to find any props under full retail price and more! 

Hello, my name is Tom Unik and I work for Alpha Capital as a Marketing Development Manager for our Retail, Wholesale, and Commercial properties.

We get a lot of leads from our DM campaign of people who want to sell under retail but not cheap enough for me to do anything with them.