So they wont overpay.Just learn about the 1%, 2% Rule/test today =) Thanks again for your great tips!

Really appreciate tips and experience.Best,Erick and Mary

What are some tips and advice to "break the ice" for someone becoming the new owner in taking over a property with tenants already in place?

@Clayton Mobley  while we always debate the leverage question and of course i am on the side of the name of the game or goal is to get some properties paid for as soon as possible.. 

Of course since we are new to the area we are looking for local real estate agents to network with who can give us a feel for the market climate and whom we can refer clients to.

Well that is way cheaper than mine - of course when you work small it doesn't always scale. $8000 including crane. 

Thanks Ryan for the wonderful tips!

Any further tips and insight regarding either of these areas of rentals would be greatly appreciated.  

Of course minus interest and everything else that goes into a loan. 

As far as I'm aware, commercial lending is primarily based on the financial performance of the property and less on the individual although I would of course personally guarantee the loan.If anybody has some insight on this topic, it would be greatly appreciated.Thanks!