My tenants had also been in the property for a couple of years and were under-market on rent (not $1200 but still under).

But, i do have a couple of LLC's, mainly for transferring property to children or spouse when I drop dead. 

I have never taken his course, so can't speak to that, but on the surface of a couple Google searches, of the two he seems to actually be involved in real estate a lot more.  

I think this is generally a good post but, a couple of subjects warrant comment (opinion...which yes, I know how valuable anyone's opinion may or may not be).* In my world (Bank) a "Foreclosure" is a property/loan that has a filed notice (Often referred to as first legal) that a foreclosure has commenced and is somewhere in the foreclosure process between first legal and sale (or post sale redemption).

Check out your local Salvation Army, they always seem to have a couple in decent shape for $100 or so....

You will get kids jumping on beds and heavy couples using these. 

Couple things to do..1.

Simultaneously, if this vacancy is a high percentage of the buildings total SF, I would market the property for sale to an owner-user who may be able to fill the vacancy at preferred rates while gaining investment income off the other tenants.

I have quite a bit of equity in a couple of properties and have been debating my next steps.  

A couple of years ago we had a property that we had sold on a wrap and the new buyer went to get it refinanced through a title company.