I've been considering a property near one of my kid's colleges that is  currently a multifamily. 3 units: 2/1, 1/1, 1/1.

The owner is a good friend of ours and agreed to do a deal with us if we helped him rehab the property.

@Nida KazmiI don't know anything about these companiesBut you won't "cashflow day 1" Maybe on paper - but not in the real worldSet expectations accordingly

The rent:sqft is generally 1.0-1.3.List price seems on the low end of what I comp the property at.

On either an A class property or a commercial building, I would do preventative maintenance, but beyond that I wouldn't worry about it. 

Will they be depreciated over 27.5 years or as personal property on a shorter schedule? 

If the property is sold at a loss, can you unwind a 1031 to off set the gain on the sale of initial property?

This opportunity has allowed me to not only gain great knowledge about parking, but commercial real estate as a whole.

At 6:00 pm on the first Thursday of every month we have been sharing resources, knowledge and encouraging people to win at investing in real estate.

I’m reaching out as I’m looking to venture into the real estate investment world—something I’ve always wanted to do, and now I’m determined to take action.Last year, I found the perfect multi-family house, but it fell through at the last minute, leading me to jump into a single-family home.