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!

Have you analyzed whether it will genuinely add value?

I'm not sure about the potential for liability in a wrongful death suit if somebody is injured or killed in the fire, but definitely would not want to find out personally, nor would I want to live with that on my conscience.  

Personally, in this market, I would work on saving up and really doing my best to find a great opportunity and pull the trigger then.

Personal guarantees are EXTREMELY common.

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.

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)?

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

It's a matter of finding the one where the weaknesses are in areas that aren't relevant to your needs and/or don't aggravate your personal pet peeves.