How to be a commercial property landlord?

Ok, so I have two rental properties (single family homes) and thought about venturing into the apartment options. I found a 5 unit apartment complex that is above a retail space (approx 3700 square feet or retail space). I figure I could break even on payments if the 5 units were rented, so the biggie would be... show more Ok, so I have two rental properties (single family homes) and thought about venturing into the apartment options. I found a 5 unit apartment complex that is above a retail space (approx 3700 square feet or retail space). I figure I could break even on payments if the 5 units were rented, so the biggie would be getting the retail space rented. I've never leased a retail space. What are the pitfalls, and what should I know about going down this road? I guess I'm more worried about insurance issues and hidden expenses that a novice wouldn't think about until the bills came. Any resources, books, tapes, etc. that would help out? I think I don't know enough about this to know what questions to ask and that should be a reason to RUN from this opportunity, but maybe after getting this knowledge, I'd be better equipped to make a decision in the future. Any help from commercial real estate landlords is very appreciated. Thank you so much!!!
1 answer 1