Add up all your expenses (payroll, leasing commissions, maintenance, make-ready) = Operating Expense. 

You can collect the buyer side commission from the seller of the house, plus an assignment fee from the investor.You may want to discuss this business model with @Roy Cleeves.

If I sold it today, I would not make much equity at all after realtor commissions...maybe a couple grand, so is it worth it, or hold onto it and suck up the losses???

The prices for these dilapidated buildings can be very reasonable and if they have been out of commission for a while, some sellers are willing to accept creative financing options.I started my journey of searching for old motels in Michigan about a year ago, only focusing on it on my spare time while I work on my e-commerce businesses.

The Solicitors are like 100% commission sales people.  

It could be very advantageous and save you thousands on commissions and having access to the MLS is very helpful as well.Having access to properties without having to wait for an agent is priceless.

So I have about 375k in Accessible cash and another 300k in cash if I sell my current buildings after commissions.

Just spouting out here, but definitely get that clarified as you do not want to cross the line where a friend is planning on paying you commission from the sale as if you were an agent if you don't have your license. 

Prepare to pay a minimum $3-$5k commission though, no one can work for 3% of $10k or so.

The sellers agent usually splits their commission with the agent bringing the buyer.