And that is a licensed MLO  Lawyer or in some instances a RE broker..

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.

The proceeds could be reinvested into something with better returns or even used to simplify your finances(Like Bettment still offer 4.75% for new customers, and you don't need to do anything!).

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.

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

The number of DSCR (Debt Service Coverage Ratio) loans a lender will offer can vary depending on the lender, your financial situation, and the property cash flow.

I have recently worked with a company that has an excellent offer.

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

.🎯 Your 6-Month Timeline:Month 1: Foundation (5-7 hours/week)Morning routine: 1 hour daily market researchEvening routine: Deal analysis practiceWeekend: BP forums & networkingKey Goal: Analyze 10 deals on paperMonth 2: Education (8-10 hours/week)Complete 1 RE courseJoin 2 local REI groupsSchedule lunch breaks with agentsKey Goal: Build your initial power team listMonth 3: Systems (10-12 hours/week)Set up deal tracking systemCreate document templatesEstablish banking relationshipsKey Goal: Ready to make offersMonth 4: Lead Generation (12-15 hours/week)Drive neighborhoods after workWeekend open housesSetup automated MLS alertsKey Goal: Generate first 5 qualified leadsNow, the Owners and Brokers you deal with may not enjoy this, but you can certainly "practice" making offers.