It only has positive cash flow due to concessions by the seller that will last about 2 years.Property values have seemed to drop in that area, so I'm doing something different by requesting a reassessment of my property taxes.

I would greatly appreciate any guidance, resources, or recommendations you may have for someone in my position.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Got a negative review for not having a garage to use in the winter….

I also like to check reviews on platforms like Yelp, Google, or even Angi (formerly Angie’s List).

I would highly recommend you listen to all the podcasts from Kenny Bedwell - Cashflow Positive.

Right now, the best offers around me are for some 1.3-4 million, that only generated around 100k per year gross, so there would be a high chance of not cash flowing, and paying money, especially with a commercial loan (these buildings have more than 4 units).I was thinking that although the rental itself does not generate money, I would be able to deduct the mortgage interest, and depreciation from my personal w2 income and would be net positive.

Be positive -  I would guess that over 95% of our clients complete their exchanges with properties they like.  

Defaulted SFR loans - 1st position only (this has been our bread and butter over the years and we will continue to play in this space).

If OP can lever-up while maintaining adequate reserves, he will be in better position than buying with heavy cash position.