We would take the loss which would reduce our taxable income.  

Track all income and expenses of your projects in report form and review that regularly with people you trust in an attempt to reduce expenses and increase income.  

I contacted a seller off market and am going to make an offer directly to him for all 3 duplexes. He was originally planning to sell this spring with realtors but I approached him before he had them listed.

I calcula...

Ideally, you would have three physical bank accounts:  a cash account which holds the bulk of your money, an operating account which your checks are written from and bills are paid, and a deposit accounting to keep tenants deposits separate from your money.  

@Derrick Wallace multifamily basics are very similar to any other real estate basics:You make your money when you buy - value add play and below market prices will help reduce the risk. 

. $100K in equity valued at 10% is worth $833/month and is therefor reducing the cash flow from the property by $833/month.

In that effort, hopefully, you can reduce expenses and enlarge your income.  

Your tenant will pay a bulk of your mortgage so you can justify a higher priced property initially.

I would low ball the bank as they have already reduced the price once and it has been on the market a long time.199 Commack Rd, Deer Park, NY 11729

Makes things so much better when everyone understands and agrees, and significantly reduces liabilities...