I almost feel like some type of application is warranted so I have SSN, bank account numbers, etc. in case things go south.Your collective knowledge would be appreciated! 

Pete Fiannaca Every accountant has seen his or her share of incorrect turbotax returns, and most enjoy fixing them:) In general, I think that real estate warrants the use of a pro.

@Wes BlackwellGreat study post WesI believe it may be sitting on market so long and warrants a lower price because it backs right up to an active train run.....see the train tracks?  

check the neighborhood  for similar buildings and see if they are rented   what are the  projected rents  check the numbers  to make sure the rate of  return warrants the  purchasewant to chat  I love  talking and so a lot of work in Ohio

Of course, you will have underwritten the deal at sufficiently conservative financing rate - like the BoC posted 5-yr, fixed-rate reference - that the business easily throws off cash at the actual financing rate.If you are disciplined enough to apply the "cash-back" directly to the mortgage principal as a pre-payment (some lenders will {strongly} encourage this approach) it is a good thing ... if you use the cash-back on a rental property financing to pay-down the principal on your primary residence (where mortgage interest cannot be deducted as a business expense) you may warrant extra kudos.If you are certain you can re-invest the cash-back and earn a higher {net} return than paying down your mortgage financing {particularly that on your personal residence which is paid with after tax income}, the cash-back can be a good thing.  

After receiving the condo questionnaire I found this condo is a non-warrantable.

Talk to your Top and look into going to Warrant Officer school.  

You will need to find a lender who will do a loan on a non warrantable condo.

If you are buying in Beverly, I'm sure each commercial property would probably warrant it's own LLC.   

Whether the legal potential issues related to signing a lease with this tenant warrant having cash flow is another question.