You could probably live for free, build equity, and save more for your next purchase!

Purchase price: $2,225,000 Cash invested: $350,000 Purchased a 40k sqft ft mixed use building on Main st in Middletown, CT.

But in Summit County e.g.

If you have not run your own business beyond real estate before, I strongly recommend that you get in touch with SCORE (Service Corp of Retired Executives) at www.score.org.They are a free resource (part of SBA) that will help you to evaluate the financials of the company you're looking at buying, build a business plan and to understand what you're getting into. 

I promised that we would not build a new home; the home was his parent's, he wanted it to stay What made you interested in investing in this type of deal?

Some of those building had extreme structural damage that would need to be identified by an engineer or architect. 

These buildings are zoned like hotels and have all the requirements you need to rent and make money accordingly. 

Take a year to build your credit and save.

Not even talking about accepting non-accredited investors, which they don't.I am okay with a new firm accepting non-accredited for their first 1 or 2 deals while they build an investor base.

I have a feeling you'll be able to build back your savings pretty quickly.