Add as many of the Ancillary Profit centers in Self-Storage that you can such as selling locks, boxes, moving supplies, pack n ship services, truck rental, renter's insurance, etc. 

I believe they might be owned by the mother ship of Public storage but I could be wrong on that.. but they are a hedge fund

It is not uncommon by the way for investors to walk away. 5 years ago is the 2007 vintage when most markets were at the peak.The investor has a high interest investor loan and a high sales price.Probably was just breaking even hoping for the market to turn.Now that the tenant left a bunch of damage the investor is jumping ship and not pouring anymore money into a bad investment.At the owners age enjoying the last years of their quality of life is more important than an overvalued debt to a bank.

I hired a real estate agent who will be looking to get a percentage on my purchase if I jump ship.

A week or so later they actually did.Our only loss was the shipping expenses.

Looking at a property with 125ft of canal access on the backside with enough dock space for a 30ft boat. 

Usually involves heir-ship affidavits and some other forms showing they have right to sell.

.  --   3780 sq ft 2 story office building (office was previous use)--  Built appx 1900 -- think it's brick, or block with some sort of facade, possibly limestone as that is common in the area -- has a basement as well with partial crawl space -- good soil in the area--  Appears to be structurally sound - no issues - however needs further investigation, the floor joists are likely large old world pine/oak or other hardwoods shipped in so they should be good as long as no previous termite damage/dry rot--   Basement professionally waterproofed 15 years ago - should be no water issues, we've had lots of rain locally (more than we've had in likely 10-15 years) and basement supposedly has not leaked, think it's limestone/concrete -- Building also surrounded by Concrete -- water should not be an issue-- Per agent this week there will be a new roof put on (Flat Roof) at a cost of $17k-- Asking price $60k-- Has been occupied by an accounting firm for I believe 40-50 years - they owned the building and have left as they merged with another local accounting firm and moved to another building-- Dated inside -- lots of paneling, probably dim lighting, HVAC is kind of dated****************************Potential Downsides/Other Pertinent info-- Likely will have low or nearly non existent price appreciation, other than upgrades I'd put in -- I probably wouldnt factor it in any of my figures-- Lots of ranching/agricultural, oil/gas, wind energy activity around - city has the closest major grocery store/Wal Mart to lots of people located in more rural areas within a 1-2hour driving distance -- town is important for that aspect-- Located in a small community - town has appx 12-15k people, however it is a bedroom community located off of a VERY well maintained interstate and it's only 20-30 mins drive from the City I live in that has 500k people --   The city is a good "Clean" town if that makes sense, very nice community gym close by-- Building is on the downtown core - right off of one main arterial and 1 block from the other -- no plans in the future to alter traffic flow etc --- Lots of money has been put in by the city/local govt to maintain the downtown area and make it a very nice walkable area - with lots of little shops, antique places, a couple cafes etc -- A local company in the refining business recently moved the majority of their business there from Wichita and has put a lot of money into this community -- large donations to the college and elsewhere (they make additives and are a nationally known brand -- have been around since the 70's - only way they go down is if we go away from the internal combustion engine - dont see that happening in the time I'd own the building) 

I work with a local group of real estate investors and they also offer mentor-ship.

You might have been able to work a short-sale with previous owners - but it sounds like that ship has sailed.