The agent is asking for a commission which I understand he needs to make money someway and if I still walk away with a profit I would be ok with that.

The flood quote from an agency is based on replacement cost of the square footage times some risk rate times their federal actuarial profit whiz bang machine.

Stop holding on so tight to your profits, that your paying more then they are worth.

Rent is increasing in our area so we can adjust for that each year and make more profit. 

That leaves about a $45,000 profit before closing costs. 

I own my first home and rent it out for a profit. 

After running your numbers:1: What are you realistically looking for in terms of profits (% wise or hard number)?  

Start with the podcast they will give you plenty of reading material and further individuals to read up on.I am a big supporter of Jake and Gino's Wheelbarrow of Profits.

Also, at 6% CoCR, if that stayed your cash return per year, that would mean it would take you almost 17 years before you broke even...as in, making a profit. 

One of the reasons he has bought so many apartment complexes and have always been profitable for him and he says that apartment complexes have always been profitable for him and is now saying to stay away or be cuatious from most other commercial operation.He is currently very concerned about other commercial developments depending on its demand for that type and how long a vacancies lasts and if that location is dependent on a special industry or the demand for it or that type.