First Commercial Deal - Small Office Building, worth pursing?
I currently own 10 properties on the residential side and have an opportunity to acquire a small 3-unit office building that is fully leased. This would be a contract for deed with a family member that owns the building free and clear. Not sure yet on what the terms would be, but the purchase price would be around $300k and gross rents are $3,300/mo. Taxes are somewhat high at $11k annually but it's still a decent return if I can put 10-15% down.
Since I'm new to the commercial side, is there anything I should look out for here? Figure this might be a great way to diversify the portfolio, but want to do my due diligence since I'm new to the commercial side.
Thanks in advance!