Hey Nicholas, thank you so much for the advice, I will give a check on that option. 

Andrey this the same deal you were posting about a few months back.. if so i would contact Kathy and see whats up.. its exactly as i thought it was.. seller financing so the debt was to the seller who then probably sold the notes to other investors.. so no recourse just bad deal 

Hello BP Community,I have  been a BP lurker for many years and after falling out of love with retail real estate- I am oh so READY to get into investing (my first true love).

That is taking into consideration employees and 65 rentals, so I am sure you will be a lot cheaper.

This is a great place to learn and to connect with people so take advantage of all the great resources.

so... clean-out and demo? 

So have another mortgage here. 

I probably won't withdraw it, so the long-term tax savings and asset protections are appealing.Anything I am misunderstanding or not considering?

Financing your second property can be tricky since lenders may only count 75% of rental income toward your debt-to-income ratio, so get pre-approved early.

So in the words of Clint Eastwood: "A man has to know his own limitations."