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

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.

Honestly after I did my first deal I was in a similar position as you are.

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

will you have a net positive return vs selling it as a 4 unit? 

But really you’re just creating a second job for yourself and one that doesn’t pay very well if it even is cash flow positive at all 😆I used to buy houses for STR but now that I’ve got several STRs up and running that I bought many years ago, I stopped buying STR once mortgage rates went up and housing prices went up.

I agree that demand and the house staying dry during Hurricane Milton were positive signs.

You can also hire a real estate attorney off of UpWork or Fiverr to review the documents and give you an opinion just to be sure.

Still tons of positive cash flowing deals that meet the 1% rule and amazing appreciation here!

South End is great for appreciation-driven investors who want to be close to the action.NoDa (North Davidson): The artsy vibe and walkability have made NoDa a magnet for young professionals, driving appreciation in this district.Kannapolis: Known for ongoing revitalization projects, Kannapolis is positioned for appreciation.