In short its complicated:) each situation is different

This is Subject-To.We can make it more complicated by combining some elements of these different financing strategies.

I got quickbooks once and it was so complicated and cumbersome that I gave up trying to use it.

Most investors on this forum are obtuse to the complicated nature of macroeconomics, cause and effect.

As for the addendums go I feel these two addendums just complicate things and thought of removing them entirely. 

Chris Mason Your idea, though clever, is too complicated.

And you don't have Schedule C to deduct the business expense.This might have changed if your RE portfolio was run like a business and/or you have a partnership; the partnership would then deduct the travel expense as an ordinary business expense.As I said, it gets complicated quickly.

I know it's complicated, but I just really am looking for help and direction with this property.  

Complicated post and I realize this might be more geared to a CPA, but figured I would try here and see if anyone else has come across a similar situation.

@Bianca Rodrigues  I second Ken's advice above, definitely get an appraisal and inspection if you move forward with the deal.The two existing mortgages make it complicated.