@Noah SchulzThe previous owners' failure to disclose a back-paying arrangement complicates the situation, potentially leading to tenant disputes or security deposit concerns.

I want to be able to leave something behind for my family! 

In a few years, if I do decide to leave the United States and work in another country, how would my Roth IRA and High Yield Savings account be affected? 

It requires significant work, and I'm concerned that some additions made by the previous owner may not comply with building codes.

Are they interested or concerned about neighborhood crime, supporting data for surrounding rental rates that might affect your future cash flow, pictures or video of the property showing the class of the neighborhood and the property itself, ... ?

@David Cherkowsky, I'll just comment on the value of depreciation and leave the rest of it to a tax expert.

I believe there maybe a few different ways to tap the equity in my 1st rental, but my concern is that if I take out the equity for a new purchase, I'll be reducing the cashflow of my business due to the additional debt repayment.

You'll also have a better time renting it if they don't have to leave their unit to do the laundry. 

So it can be something to be concerned about. 

I think your biggest concern would be the pre-payment penalty that comes with most DSCR loans.