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In Investment property, investors don't buy "sticks and bricks" they buy cash flow.  It isn't a whole lot different than comparing a real estate investment with depositing money in your bank.  In the bank you know you're going to get it back so you accept the low rate.  With Commercial Real Estate (or stocks or any other investment) the return is less certain so you want more of it. 

A favorite, I'm going to call it a trick, is if the rental units are vacant the owner will guarantee the rents for a period of time.  An unsophisticated investor will think great, cash flow from the beginning and plenty of time to rent.  It will turn out to be a disaster in a market such as were in due to how hard it is to get a tenant.  A soon as the rent guarantee is up, your stuck with the mortgage, property tax, etc.

When looking at Net Operating Income (NOI), examine it closely.  In an apartment investment for example the owner may represent the NOI as being $X but what is he doing that should be charged against the NOI.  He may be doing all the lawn work.  Well, that should be correctly charged against NOI lowering it and subsequently the value of the investment.

If you're confused, don't worry, it took me 35 years in commercial real estate to really know what to look for.  My name is Claude Gardner and if you are buying, selling or leasing commercial real estate in Daytona Beach, Ormond or Port Orange give me a call at 386 846 4135.  Check out my resume at www.BusinessLocationsOnLine.com/resume