You might also meet someone that could be a potential business partner.

One of the risks here is that you can potentially have a nosey/disgruntled neighbor who would go as far as to file a complaint with the local building department.

We have a potential deal in the works that has a business on the first floor and apartment upstairs. 

Potentially fix and flips.

You ideally want a paper loss to minimize taxes and potentially even take it further and apply the loss against other income you have as Bill mentioned in the comment. 

So there really isn't a right or wrong path to take.And you'd also have to put yourself in the shoes of a potential acquiring company.  

And this property has SERIOUS value-add potential.

For more trust, be sure these platforms feature reviews and testimonies.Plan meetings with prospective team members during your May travel to Houston to go over your objectives, expectations, and potential areas of collaboration.

I have a partner and he is more so"in charge" in looking a properties and i am mainly focused on taxes, potentially starting and LLC etc.

So when I'm researching a property, if the last deed date was before 2000 then I know I have the potential of equity.