Not to be rude, but if your new im willing to guess the property will sell for more then you expect (including cost to actually purchase ect), retail for less, and remodel will cost more.

They say maybe 1 to 2 years.I say give it a few more years and you will hit burn out if you don't scale back.A few years later they have left the business all together,scaled back and pace themselves,or are still teetering on burnout and are divorced,etc. with their life in shambles.My Uncle invented the Goof-Off cleaner.Became wealthy and then went through a really nasty divorce and money and power got to him for about 10 years after that.As he got older he finally changed and realized money wasn't everything just the experiences and memories in life that you cherish.Don't be a slave to money.Use it as a vehicle to reach your dreams in life but don't worship it because the true things you value will be gone if you do.

Apartments, Retail, Industrial/office?

A retail flipper should be seeing 10-20% return on their money per deal.

Robyn Thompson's Retailing for Cash.

I am not sure who would be best to recommend you to but a retail Wells Fargo rep maybe a good start.

The 70% is what you use if you will personally be completing the repair/remodeling duties, then selling at retail value.

If you succeed you will like it and stay in for long term -- Some comments by Laura are good.I am engineer - and had four ( 4) rental homes --for over 18 years while still working full time --Consider as Busienss not just investment --this is not stock which you can buy and sell at any time --yes-some times confusing, frustrating and time consuming --My best suggestion is buy a single family home -- best time to buy now --bank foreclosures-- if you have a college or hospital near by -- buy a 3 or 4 bedroom house and rent to three --students or female nurses ( single) -- find local students or young kids to cut grass and have a lawn service to spray checmicals --get an older retiree for minor repairs and maintenance --and dont be greedy --keep tenants happy -- buy hosue --around $50,000 cash --which should be $80,000 to$100,000 current retail value - do some homework on pricing -Refinance the hosue after 12 months --get cash back and buy another -- if you buy one house every year or every two years and let tenants pay for mortgage --you ahev five hosues in tenyears and get paid in next ten years --you will have over $1 million net worth--all paid for Free and Clear Five hosues-- for retiring in 20 years or early --you do not need cash flow now --keep the job if you like the job -- good luck

If it was built in the 60's it might be sitting on a nice piece.Back then land wasn't at as much of premium so lower density was used more spread out.You might find the highest and best use for the land to be building a whole new structure with a much higher density.The building pattern for the area might have changed and retail might now be the best use for the land.You can always hold and have your parents buy out this guy and control a larger piece when the market recovers.

Has anybody ever approached a retail REIT company for the purpose of using their capital (as investment on their part)to acquire commercial, NNN properties?