I completely agree with removing Reverse Trolling in a clearly defined form. 

For me as well as the seller.First, you have to define Sub to financing.Do you mean the reckless kind where you overpay for a property, take over the financing and borrow from others to cover closing costs and holding costs when you have no money, no credit, no income, no reserves and can't tell a warranty deed from a deed of trust and you close on the kitchen counteror do you meanbuying below market value, already having a nice income, having reserves, using escrow and title, already understanding the due on sale clause, have done a lot of creative purchases and know when to use and when not to use creative finance and how to recover if something goes amiss?

, status of major building components (roof, HVAC, structural, electrical, plumbing), accounts receivable aging (are all tenants paying or is the $20,500 schedule rent?)

@Will Almand A cost segregation (cost seg) study can accelerate depreciation on your properties, reducing taxable income by reclassifying components (e.g., appliances, HVAC) into shorter-lived categories.

I’ve found myself particularly interested in multifamily properties, but I’m struggling to grasp what exactly defines a “good deal.”When evaluating listings, should I primarily focus on properties that seem undervalued?

Quote from @Greg Kasmer: I'm curious as to your comment on getting back in when the bottom has been "somewhat defined" - Is that defined by rents stabilizing and/or increasing or another metric?

You should definately expect a good ROI, but I dont' have data to show how that would effect it would have on revenue.

What is the current market valuation of the property based on comparable sales (defined as similar properties, within a 1-mile radius, within the last 30 to 180 days, that are within 10% of total square footage)? 

Here's the key components to calculate your tax liabilityAdjusted cost basis - Is the purchase price, plus capital improvements, minus depreciation.

Consider defining clear roles, ownership percentages, and responsibilities upfront, and ensure you’re protected if the partnership doesn’t work out.Since you already own properties, it might be worth consulting a CPA who specializes in real estate for advice on tax strategies specific to your situation.