Hi all,I'm still scouting for my first deal, and I came across a commercial multifamily (7 units + 2 stores) that is out of state (NY, I'm in CA) that looks promising.The basic numbers are:Asking price:  300kCurrently leased, bringing in 74k per yearTaxes:  8,600, but assuming 10k.I'm assuming this needs to be a commercial loan, which brings me to my first road-block - my down payment ability is limited to about 30k (I have an IRA with 60k in it that I can borrow up to 50% of).What sort of things should I be on the lookout for with this type of property (assuming I'm able to surmount the down-payment problem)?  

That specific neighborhood is definately one of the least desirable in the city, although there may be some decent rental properties in the area.

If you're in Old City, I could pay 6 and still have equity the day I purchase it.

I live in Kansas City, Mo and have been living here for around 15 years.

This particular segment has also started moving into center city.

I'm a newbie too in California.

As of today I do virtual wholesaling and investing in 9 different cities across the USA. 

California I have done 3 buy and hold deals with my mentor (RE-Agent) who helped us start our passion.

I am from Milpitas, California. 

Hello, I'm in the market to do a commercial refi on a medical building in California we bought for $2 million which at the time was only half occupied.