We explained to him we would pay for probate and pay to fix up the house to get it rented.The lease is for 5 years but dissolves once we close.

Now if I pass that income as management fees to S-corp, I pay $3.5K (SE tax) + $800 (LLC fee) + $1700 (CPA + bookkeeping) = $6K in total.

If rates come down (most likely not in 2025) you can refinance or just shovel cash-flow and pay it down quicker. 

I went to pay them, couple of days work I'll pay with a check (1099) and cash it for them.Hey Tony, I've got all O's info what's yours?"

. $1300/month, tenant pays all utilities. 4 bedroom one is vacant.

Regarding your other questions:  - If the going value is $260/SF, why would you pay more than that?  

We will be paying nearly $50,000/year in property insurance.

No need to pay big bucks for this. 

Right now, the best offers around me are for some 1.3-4 million, that only generated around 100k per year gross, so there would be a high chance of not cash flowing, and paying money, especially with a commercial loan (these buildings have more than 4 units).I was thinking that although the rental itself does not generate money, I would be able to deduct the mortgage interest, and depreciation from my personal w2 income and would be net positive.

@Parmesh P. there is no such TDA paying 7% or even 6% long term,5 years or longer.