@Maxwell MurphyIf you can heavily subsidized or live rent free, it’s a good chance it’s a good deal!

Vegas is definitely a market to look heavily into.

Would you pull the trigger on a FIRST DEAL if you heavily relied on other people to make your investment work?

Unlike residential leases, which while do have some flexibility, are fairly heavily regulated in what you can and cannot require a tenant to do, commercial leases tend to be very freeform and are minimal on the regulations.Look for the following items in the lease:Length of tenancy (how long they've been there and how many times they've re-signed a lease)Length of lease (how many years are left on the lease)Who pays what utilityWhat maintenance is the landlord responsible for versus the tenantAre there any rent escalator clauses for the tenantThe benefit to commercial tenants is typically their willingness to stay in the same location for longer and that they, usually, aren't as time intensive as a residential tenant. 

As an investor I would be cautious of ones that are heavily front loaded, but don't have a problem with some upfront fee.Good luck Kevin

I have been heavily involved in the Real Estate market here and would love to share what I've learned and what I know to be true about our current market.  

For a flip investor those numbers do not work with rehab for resale costs and immediate resale fees and higher taxes.The flippers are not holding for investment purposes but for resale purposes which is heavily taxed by the IRS.

These are heavily regulated in Texas, and compliance is onerous. 

The value of $100 per door depends heavily on the circumstance.It should be after PITI + 10% property management + 10% maintenance reserves, IMO.I always do 80% of rent minus PITI and consider that my profit margin, these days.  

They tend to rely heavily on their tenant rep broker.