Off-setting CRE loss with own business

[Patrick Connell]

Wanted to get some opinions on this.... I'm looking at a CRE deal in the Downtown area of my town; great foot traffic, historic, etc. It's currently set-up as multiple office spaces for rent and not positively cash flowing; but there is a ton of potential with proper management and some renovation. So, my thoughts, purchase under my buy and a hold company and then have my real estate business rent space there to cover the shortage until we are positively cash flowing. We've needed an office space for awhile now anyway and it would allow us to write off the loss. Thoughts? Experiences? Advice? Etc etc....