Do you own these properties in your personal name or through an LLC?

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.

Better option for personal use but perhaps not rental. 

Hi Aaron,It's always challenging when companies go through transitions like this, especially when it involves something as personal and critical as managing retirement accounts.

Or maybe you finally want to purchase a multi-family complex / self-storage facility / car wash, etc.

And will you have ongoing maintenance issues beyond your CapEx based on the building's age.I personally would be suspect of this deal.

And personal downsizing is always good for business!

Personal criteria, building criteria and area criteria will all affect the way a deal appears on paper. two 100 unit apartment complexes, one in an A area and one in a C+ area will have very different financial breakdowns and interest groups.Want to know if a deal is good (for you)?

@Shawn Questa I agree with you that there could be some opportunity here, but personally, with that little equity in the property, I'd wait for the pre-foreclosure process to start and  perhaps you can do a short sale (though I don't know the details on how that's handled in TX).

Simplify the structure as much as possible, have clear roles and responsibilities that are not overlapping (meaning only one person is allowed to make certain decisions) and a clearly defined exit plan.