I was fortunate to buy it when prices were much much lower and got a great deal on it so we don’t have a mortgage on this building but if we did the cash flow would help with that as opposed to taking a distribution at the end of the year.

You are already jeopardizing your relationship by presenting what they think is a low offer, but they are clearly in need of a sale.

Something that you really have to take into consideration is that most buildings here are a century old or even older.

I'd like to keep $100k equity for myself and sell the other $500k to equity investor(s) so I can keep the excellent mortgage (fixed at 3.25%) and take advantage of the cash flow and build more equity.

It's none of their business what is going on with the other tenants in the building.

Adjustable-Rate: If you plan to refinance, we can discuss fixed-rate and adjustable-rate mortgage options that suit your long-term goals.Cash-Out Refinance: Once the property appreciates, a cash-out refinance can provide funds for further investments or renovations.Living in the property initially helps you build equity faster.Your townhouse investment is a promising venture.

Then you can start to build your team in that area. 

I have been working with investors over the last 3 years helping them find good deals on land in desirable locations and then building a new house on it to resell.

We are looking for houses with larger lots and favorable zoning to utilize our owner occupied loans and subdivide and build while we work there.

My business partner and I created Quality First Builders, LLC, to build new construction spec homes in the Triangle and surrounding areas.