Either get a strong team in Baltimore to give you better options or a CPAs advice to structure your way out of this as a win.Don't consider this specific experience a loss, but disconnect from this investment as a loss. 

It was on market and we were able to structure a 10% owner carry after closing so it was only 10% down.

And if you happen to know a lawyer that’s adept at crafting these types of structures and agreements?

Talk to zoning about possible simple storage structure.  

You, as the property buyer and payer of the note, need to ensure that the monthly payments are affordable based on the rental income generated from the property.The terms of the note (interest rate, monthly payments) should be structured in a way that aligns with your rental income and financial capabilities.We can go over how to do this if you would like.

Looking back at the documents, it's not really clear to me what the legal structure was. 

Many lenders are not okay with this rental structure. 

Can it actually be structured that way?

Any suggestions on how to go about finding a commercial general contractor and/or structural engineer. 

As we're running out of personal capital to continue acquiring with, we're exploring a structure where we give investors an 11% preferred return that we buy them out of in 7 years.