There is a mix of repairs and improvements.

A great many war of words have been fought on BP about cash flow vs mixed strategy investment.

Ours was on a mixed use property with few good comps (small rural markets and unique properties are tough) and an appraiser coming from a very different market (southern Maine). 

I know that is the right thing to do but still have these mixed feelings of excitement and nerves. 

If tenant mix is 80% mom and pop and only 1 national tenant then risk profile changes.  

My advice would be, not to mix OOS investor with Never Present investor.

I've read several similar threads on this site looking for information, but I haven't really found my answer yet, so please excuse another post on the topic.I closed on my first commercial/mixed-use property last year, and my wife and I are building out a hair salon in the retail space.  

We expect to do a mix of studios and 1-bedrooms with a few two-bedroom units with 40% commercial on the bottom floor (possible co-working space).

Also, you are mixing the capital gain bracket rate to passive income. 

Some other markets commentary: Colorado Springs has a good mix of growth and balanced supply, Phoenix's growth seems to be outpacing the permitting, and Columbus though lower growth also looks pretty balanced.