So helpful and concise for someone like myself to understand.

Worth a few thousand discount, but understand they may want to foreclose and sell it to a friend at a discount as well.

Hiusing a 100K property as an example (turnkey), with a 25 year loan, 76K, 5.6% p.a. that would mean the first year roughly 4K interest, and the depreciation would be 100k/27.5=3.6K, so total 7.6K - 630 USD/month.Now did I understand correctly that the 630 $ should taken out against the monthly cashflow without a loan, not including vacancy, capex ?

I think I may finally understand why - based on my experience. 

Thank to everyone who helped me understand this situation better.

It is my understanding automotive repair requires a special permit in many towns to operate due to the nature of the business.

I realize that these are very deep questions, and something that I may not get all the answers to on BP (vs face to face), but I'm hoping I can learn over time and as well participate here, and really start to understand the data of commercial real estate. ~ Matt

Trying to better understand this process to see if it’s something for me - please feel free to share your success stories too!

But when I worked out my numbers, I think I had to many questions on whether or not I was understanding the strategy correctly and doing the math properly to jump on it so quickly.  

You DO have to understand the process and be well-educated on what's going (your market, costs of the renovations, etc.).