What are your thoughts about buying older buildings built in the 1900 to 1920 timeframe. mainly d/t low property taxes and age of buildings the  numbers appear favorable. also in poorer part of town. 

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It's one of the curses of the profession: everything has to be 100% by the book and avoid even the appearance of impropriety, much less have any actual back room dealing going on. 

How they actually manifest themselves depends on the nature of the downturn.

The biggest reason we have not offered a fund, is the competitive nature of the market we are in doesn’t allow us to purchase a lot of assets, unless we are aggressive.

Self proclaimed clean freak etc. yada yada yada She appears to be older possibly late 60’s unsure as I haven’t gotten her to fill out an informational yet.

There’s more spec construction in industrial than we’ve ever had; it appears the demand will support that.”

Naturally, if you are looking at a smaller building (residential or 5-10 unit) you will need less time than if you are examining a 50-unit building to cover both the physical building and, examine leases, gather estoppels, etc.Environmental Assessments (EAs) are a fairly common ask of lenders and, at times, insurance providers when transacting commercial properties.  

Since this is a second home for me and partially financed it appears I have to self manage in order to not be in violation of the mortgage rider, so that kind of settles that!

Personally, I believe that the value in these homes does not lie in the cash flow (although positive NOI is relatively easily accesible given the nature of these homes in distress), rather the appreciation value.