Pretend you didn't buy it, and analyze it as if you are buying it with all cash.

It might be worth a quick check with an attorney to understand your liability and your obligations.I don't pretend to know anything about it, but having stolen goods installed, especially if you have personal knowledge of the circumstances can't be a good thing to be involved with.

Also Let's pretend this 2 million dollar building has a cap rate of 7.7%

Let's not pretend doing one flip makes anyone an expert on flipping and that there is nothing left to learn either.

When you approach seller or buyer it is against the law to pretend otherwise.

I’m not going to pretend to be an expert on the Manayunk market , but I will say two things.

Again, maybe not applicable to you, but let's pretend: Year 2 of being landlord, you have nice mix of SFH/MF but there's one or two units that's just not working for you.

And lets pretend that all contacts with the borrower have been unsuccessful. 

If you don't want to acknowledge them, that is your choice, but don't pretend they don't exist.

I have said it before and I will say it again, if you want to hoard cash that is fine but do not pretend that buying cash flow and increasing cash flow are the same thing.....they are not.