This will give you one critical piece of information, that it may take X days to get an offer and sell, and the second item will give you what your competition is right now.

However, I thought the franchise might offer the guidance I needed. 

At the time, his offer was low, and I had potential plans for that space, so I turned him down.

The seller is offering seller financing at 2% interest with a 9-year balloon.

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.

This community will offer you so much value - don't be afraid to drop your questions here or reach out to any of the folks above directly.

These banks are the OG DSCR lenders and will generally offer the best rates and terms.  

Steadily has their own product (with multiple writing companies) and then they offer policies through other carriers just as an independent agency would. 

Please advise.ThanksMelAllstate: They offer a range of property insurance options.Farmers Insurance: Known for providing various insurance policies, including for rental properties.Liberty Mutual: Has a presence in California and may be able to meet your needs.Nationwide: Offers property insurance and may have suitable policies.Good luck in finding the right coverage! 

I assumed this would be the case because the rest of what California has to offer kind of sucks.