-Local banks were the best.

Hi Aaron,It's always challenging when companies go through transitions like this, especially when it involves something as personal and critical as managing retirement accounts.

@Shawn Questa I agree with you that there could be some opportunity here, but personally, with that little equity in the property, I'd wait for the pre-foreclosure process to start and  perhaps you can do a short sale (though I don't know the details on how that's handled in TX).

I will caution you that if they pull something like this and you immediately start offering any concessions as is repeatedly addressed above - this type of personality will make note of that and the threats will be ongoing for the duration of their tenancy.

And will you have ongoing maintenance issues beyond your CapEx based on the building's age.I personally would be suspect of this deal.

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.

If you're looking for a more landlord-friendly market, I personally recommend Columbus OH.

I actually had a fire MYSELF, yes personally. 

And personal downsizing is always good for business!

I have read all of the "trends" and statistics but now I am Looking for feedback on personal experience in the Akron market.I appreciate it!