This can reduce your costs and networking can always set you up for a better position for the long run in real estate, or any profession.

My question is about agent fees as they take a lot of the interest in salling out as the equity is really reduced.

Is there an opportunity to reduce expenses?

I'm also pretty handy and feel I can leverage my time to reduce expenses.The commercial condo seems relatively stable in terms of expenses.  

That option fee will be applied to reduce the purchase price. 

In addition to this, the federal reserve has been telegraphing their desire to start reducing their massive $4.5 trillion balance sheet assets of treasury bonds and mortgage backed securities as soon as this year.

Second, you will likely find that a major CapEx item can substantially reduce your returns.

If she lives there for another year she said that will significantly reduce her tax hit.

However, assuming that this correction, going back, would allow him to reduce his taxable income from his Schedule Es and, consequently, taxable income on the 1040s over the years - would he be able to correct those returns on this basis going back that far (he mentioned 14 years)?

For air conditioning in this scenario, you could install a ductless heat pump if there is sufficient demand.Regardless of your choice for heating system, you will get your best bang for your energy efficiency buck by improving the building envelope (air sealing, additional insulation), which may necessitate the addition of a ERV/HRV to maintain air quality in a tighter building ... but it may also allow you to use a smaller boiler/furnace to condition the building.