As per the TK provider business model, property was bought cheap and rehab done (work provided).

I'm looking for advice on a situation with an investment property my business partner and I purchased in June 2024 under our joint LLC in Springfield, OR.

Glad you're building your business while still active duty, that's a powerful move! 

Definitely a bad way to do business. 

I have a small wholesaling business that operates in King, Pierce, and Thurston counties.

You can probably make up for the perceived loss through the reinvestment in your US business.

While technically business purpose loans, these will still basically be 30yr (or whatever tenor) fixed rate mortgages.

Bigger Pockets is a great place to find a real estate tax accountant.A good real estate accountant can save you thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend finding an accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.You may want to consider working with your accountant remotely to expand your options.I would also recommend looking for a accountant willing to work with you throughout the year.

You must have the Business tax license & pay all the fees required.  

@Jackson Pudlo you'll have a better chance of success managing a unit right next door and learn a lot.Versus...Buying a rental in a few years that not near you.One of the biggest mistakes newbie investors make is not paying enough attention to their rentals because they are too busy with family & work.You really won't be able to ignore a rental next door to you!