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Good deal! That's how you do it.

Seems to me you did very well on the condo also, though I imagine your expenses are somewhat on the steep side, compared to a house or an apartment building.

I have a similar story. A few years ago, we had made the decision to separate our real estate business from our residence (translation, get the office out of the house). So I needed an office.

I ran across a nice property. The office was an old grocery store that had been completely remodeled into a nice small office with garage and workshop in the late '80s. The attached duplex commanded $550 a month in rent.

I stole the place. The rents on the duplex pay the mortgage, the property taxes, and a part of the utilities for the whole place. So I have a free office. All I have to pay for is the secretary.
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