Otherwise it couldn’t be free and clear and you would not be able to purchase it.  

Especially because in 10 years, if you need cash, you could consider a cash out refi, the tenants pay the mortgage, and you just got money tax free. 

As mentioned before, please feel free to reach out to an investor friendly CPA to help with your tax situation.

Mine is at 2, but honestly could go on forever.If anyone is reading this and wants help, feel free to reach out.

@Camille Sola IsabellYou can buy the Illinois Residential Lease here https://www.biggerpockets.com/landlord-formsYou can get this for free if you have a Pro annual membership. 

Time for a pro and con list: Pros: consistent rent prequalified tenants higher profit margins free marketing less evictionCons: required inspection security deposits are not included delay payment before the first payment

See here: https://www.biggerpockets.com/smarterA good place to start is with the free guides, such as "The Ultimate Beginner's Guide To Real Estate Investing".

@Patrick HancockLLC's are not free and there are costs associated with LLC1) Formation costs - potential attorney fees and setup fees with the state2) Registered agent fees if the LLC is not in the state that you operate out of3) Annual fees to keep LLC active4) Bank feesThere are also additional administrative burdens with having so many LLC's.

Feel free to message me and I can point you in the direction of a few other options. 

I’m looking to purchase a commercial office building that has been heavily discounted due to pcb in soil.