I've seen banks be very competitive with blanket loans that cover multiple properties and/or multi-family properties, e.g. 5+ units.Mortgage Brokers (obviously I'm biased) - Brokers have the ability to work with all of the above and can get you to the best lender for your scenario right away instead of having you waste your time with the wrong type of lender.

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

I'd recommend staying within 10-15% of the median priced home because that's where the most demand will be not only for renters but owner occupants as well. 

I also recommend you start looking for a professional property manager, at least until you educate yourself enough to run this solo.

But with only a dozen properties in only 2 states I’ve definitely not found a use for one yet.

If you are going to be an owner-occupant, want a low down payment, and are planning to do a renovation, the FHA 203k and Fannie May Homestyle loans are your best optionsHow do you know the property is currently upside down on the mortgage? 

When you own a rental, you can depreciate the property over 27.5 years.

Quote from @Garry Lawrence: I need advice on a serious situation involving a property I’m about to buy.

I live in California (Central Coast) and have built a 12-door portfolio in Detroit, which has been a great market for both cash flow and long-term potential.Detroit still offers properties well below the $150k mark, with strong rent-to-price ratios and a market that’s seeing growth in key areas.

I wouldn't say that office properties are necessarily foolish to buy but I would certainly be wary of it.