It would be worth quite a bit more now, prices in the area have gone up since the announcement of Micron building down the road.

You'll likely also reduce your cost of living by moving to a stabilized apartment.Depending on the cashflow and debt paydown, you can use this strategy until you've built enough equity to reinvest.On the other hand, getting into a multi-family after refinancing will also help you build substantial equity to rinse and repeat in the coming years.

The value generator in commercial is the lease or use of the building.  

The only way to know if your idea is worth doing from a wealth building standpoint is to do the math:  What is the cost to acquire?

Quote from @Josh Otero: Hi BP community, I know you've got some crazy tenant stories and I want to hear it.I'll go first:1) I was managing a 5 story apartment building and a dog fell off the 4th floor balcony because of the owner not paying attention.

My goals for joining is to meet people, build relationships and hopefully get my own thing going!

I want to be a source for these families and help build their resources to become successful.

So, we obtain a full credit report and review collections, chargeoffs, age of credit accounts, active accounts, etc. to build an overall credit evaluation.FICO ScorePct of PopulationDefault Probability800 or more13.00%1.00%750-79927.00%1.00%700-74918.00%4.40%650-69915.00%8.90%600-64912.00%15.80%550-5998.00%22.50%500-5495.00%28.40%Less than 4992.00%41.00%Source: Fair Isaac CompanyWe also obtain data from national databases about evictions, convictions, and sex-offender histories.

The building has some deferred maintenance that I have been dealing with.

.- They asked for 100% upfront payment for the build and setup costs.