OP I would work it from the Government side first.

It’s great to have an appraisal that shows higher value but markets are changing rapidly in some areas and unfortunately value is based on what people will buy it forQuick question to the OP: have you physically visited this property ?

As for the debt risk, that’s easy—find out what the debt structure is before you invest, and pass if you aren’t comfortable.Didn’t mean to drift the thread—so on to the OP…I reviewed the website but didn’t watch the webinar.  

For the practicality of the OP's question, vacancy isn't an issue.

@Cody Evans@Sean OToole  Cody this is off topic so OP don't yell at me.. but any one working distressed real estate on the west coast the very first thing they need is Property radar app .. hands down the best tool out there.. we snagged an off market deal last year that has over 300k in equity.Of course we pay cash that helps.. but this tool is super cool the info at your finger tips and it so cheap as to be a no brainer..

OP  Look on Loopnet and see who the major Commerical realtor is in your area.

OP don't do it. 

OP. 

@Basit Siddiqi in that case I wonder how the OP’s CPA is going to track the passive losses in K-1. 

OP I’m going to go with you in this.