Its been the norm for most banks to just disregard this as they would rathey have a performing not than not.

You can disregard.

@George Flevotomos the one thing I can't seem to wrap my head around is the idea that valuations based on cap rates disregard a building's age.

However you're "company" may be disregarded for tax purposes in which case the taxpayer for 1031 purposes is you even though your company is on title.  

I don't believe my reasoning should be disregarded, but instead, seen as the tradeoff to cashflow.  

It's not uncommon for properties in bankruptcy to have no mortgage on them whatsoever. so if there's no mortgage on this property then disregard the notion of a short sale as it is not needed.

Try to disregard what you may think is fair, and the need to "tell your story".....the contract agreement is all that matters.  

Also, the landlord is not required to rent the unit for less than fair market value, or to immediately turn his or her attention to renting your unit disregarding other business.

In my own investigations, I have found that if the LLC is a "qualified entity," and the LLC, and the husband and wife as community property owners, treat the LLC as a disregarded entity for federal tax purposes, the Internal Revenue Service will accept the position that the entity is a disregarded entity for federal tax purposes by filing Form 8832.

From tax point of view it is disregarded entity or something ...Tax adviser was very clear there would be no gain or loss, no need to recapture past depreciation.