Please Confirm Analysis?

[Kevin Lopes]

I am a newbie although I acquired many $20k-$40k foreclosed residential properties last two 2years. Those cheap deals have dried up so I'm shifting focus to $1Mil commercial properties. How do I go about getting loan for a 'foreclosed' commercial real estate? I've never done it before BUT need to move quickly to secure finance for the following property:

foreclosed fully-occupied 14,000sf strip mall

bank asking $925k

I offered $850k, 300k cash/$500k hoping to financed

$26k property tax tenants pay

gross annual income $160,000

net annual income $143,000

cashflow after mortgage $108,000.

I could do all cash deal but prefer to save my money. Do I try to get loan before the bank accept the deal? or just wait as not to waste my time? which banks?