I would say that is on the low side for an office building in this market. 

Even if you buy at market or above, the rehab is a disaster (longer + more expensive than thought, the refi appraisal can come in real low and you need to leave 50% - 100% of capital in. 

Focus on finding a 2-4 unit to house hack.

Because inflation never stops, your rental income must increase faster than inflation or you won’t have the dollars needed to pay future inflated prices.There are three requirements for achieving this:1.

These won't typically be available at traditional banks - go to a broker who will have access to them.To qualify for traditional income documentation loans with lower down payments, you will need to have filed tax returns for your business / self employment income.

Now what if it was a $1m condo with very low land value?  

Ideally I’d like to work with someone who specializes in clients with a similar profile... active real estate income + rental ownership.

Hey Steve, sounds like you two have built a really solid foundation — strong W2 income, excellent credit, low leverage, and hands-on rehab experience.

When I was running numbers, ChatGPT suggested that having 6 roommates could be considered a lodging house and require a special license.

I look for the classics, good school district, low crime rates and predominately owner occupied neighborhoods.