-Most leasees never exercise so 3 to 5 years from now... you keep the option fee, and had the benefit of rent that was probably above the market rate for your area.The drawback is that you don't get the ~$250k(after selling expenses) to play with. 

The Chattanooga market for STVR has had many recent changes making it harder and more expensive to get permits.

It typically falls into 6 months of gross management fees on the low end and a year and a half of gross management fees. 

Multifamily DSCR Loans, or DSCR Loans for 5-10 unit properties, combine the best aspects of DSCR Loans (30-year fixed rate, easier qualification and underwrite, low down payments) for properties that traditionally were ineligible for that type of financing.

Quote from @Jay Hinrichs: but I wont totally quit I have too much expensive wine :).I'll be right over :-)

Hey Fred, I moved to Columbus a few years ago (from Portland, Oregon which was super expensive) to become a full time real estate investor, and ever since, I've completed quite a lot of BRRRRs, flips, and own a successful rental portfolio here in Columbus Ohio.

In my models, I have expenses (less mortgage payments) track the same number so I find the total rate of return to be relatively insensitive to this number.

Success for restaurants: lots of TI budget, low rents, and calling retail brokers.  

If you decide to go forward you should make sure you camera the sewer pipe to avoid a surprise expensive problem.

The risk I mention is low, but it is a very real risk.