On a 2M property you should be able to write off roughly 300-400k, so that would cut your real estate income down for years, but not your W2, because I don't think you would be able to claim RE professional status. 750 hrs and min 50% of your time.

We both knew we were aligned in our goals and had a clear understanding of our respective roles in the deal from the outset.If seller financing is part of the equation, look for someone who’s not only experienced with creative financing but also understands how to manage the potential risks involved.

As for submitting an LOI without proof of funds, sellers may still consider it if you present a well-researched offer, highlight your experienced team, and provide a clear financing plan.

If PropStream’s data isn’t cutting it, you might want to check out Prime Tracers.

what really needs to be reviewed is why is it not going well and what is the plan - its very different plan when you cut distributions and do a capital call  to hold $4M to lower your debt obligation to allow for a refinnance compared to needing a capital call because you are only at 80% occupancy and anticpated 95%, rents are 50 cents a square foot less than you wanted and expenses are 25% higher....

You cleared up my question!

They would be free and clear.  

Use the top three or four discriminators so applicants can screen themselves.Then you need to have clear screening criteria yourself.

It's a good idea to consult with a real estate attorney to ensure everything is legally binding and clear to avoid future disputes.

Look for ways to increase profits but without cutting corners.