The hypothetical six months to find tenants might actually be 3 years, we don't know (if it was so easy to place tenants in that building, why haven't the current owners done exactly that?!).

I’m just trying to play it as safe as possible considering it’s been vacant for so long and I have no idea the condition in which the previous owner left things.  

I imagine owners can live there, you just can't rent it.

Here are a few simple and free ways to learn: Go to real estate meetup groups, attend open houses and speak with the agent there, inspect FSBOs (for sale by owner), walk your area, and speak to people tending their yards.The idea is to engage with other people and ask, Ask, ASK questions about their experience with the local market.Some other ideas: find a home inspector who will let you tag along in a property inspection, and absorb what they are looking at and why.Your mindset and enthusiasm for learning about real estate will open many doors for you.Good Luck!

Yo Omari...how will your letter be worded toward the homes owners?

Ask to speak with some of their current owners and current/former tenants.

Your write offs are also not effected, so you can write off miles also as an individual owner.

We tend to offer this to Owners to figure out the best route for them to proceed on development/building/renovating.

Any transfers should be made through the owner of the LLC and not another LLCSo you make a capital contribution or capital withdrawal.

Learn how to manage it well and avoid the costly mistakes so many owners make.