I was wondering if there are any potential tax deductions we could take as a passive investor. 

That's a giant red flag for that grocer potentially declining to renew their lease, vegan gluten free customers don't want to walk through a cloud of cigarette smoke to get to their ethically sourced non-GMO organic avocado, and obviously the "no smoking within 50 feet" sign is going to be ignored by the customers of that neighboring business, who are all a bunch of smokers.

My aspiration is to explore all potential avenues to turn this property into a profitable asset.

Investment Info:

Other other investment.

Purchase price: $14,300

Cash invested: $14,300

Multiplex developer property near waterfront.

@Patrick O'SullivanSome ideas that I can think of that I have been apart of are best landlord practices, market trends, any potential regulations that might affect sales, management, operations etc. 

For anyone who has read my last few posts; I've been struggling with finding funding for a deal in my pipeline.It's an incredible deal: off market, with insane value-add potential, motivated sellers, under market asking price, and the ability to cashflow $2k+ after rehab.

This would allow you to retain the benefits of a partnership while potentially offering more flexibility in financing options compared to an LLC.

Extended holding of an asset without a potential buyer is very much holding on to hope.

Simply relying on an average CPA or general advice from forums may not be as effective in helping you identify and take advantage of all the potential tax benefits available to you. 

The involvement of onsite management, often seen as a potential red flag, can lead to the property failing crucial qualification tests.