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.

This term replaced "subprime" and looks a lot different than subprime loans of the past.

The current lender refuses to do a loan assumption. 

There's no current loan on it right now.

Minimum loan amount is $250k.

At the current scenario, without knowing anything about you or your properties I will recommend either to look at a loan from your assets using DSCR loan.

Hi Treza,Not sure where you are in the process there, but when your ready to exercise financing options please reach out, it's very difficult to find a ground up program for inexperienced borrowers without having an experienced GC sign on the loan with you which in turn is not easy to find. 

So we retired the sellers loan within 12 to 18 months.

I've never done any Sacramento STR loans and only been hit up for one potential financing opportunity there.

And if it's a high amount, would you be better off just using that as a downpayment and get a standard new investment loan?