If you want to open up your deal to non-accredited investors (investors with less than $1M net-worth excluding primary residence), there are very strict non-solicitation rules that would apply, to which your original post would probably disqualify you for.So, now you're left with an SEC 506(c) offering, which allows you to solicit accredited investors (net-worth of $1M and above), or taking general only partners, who have actual active roles with decision making power.If you're still want to take passive investors, you definitely want to talk with a good SEC attorney!

It is a C class building - good and nice location for what it is, but primarily caters to lower income residents.

@Carloz Gil There are principles from two books that come to mind:Rich Dad, Poor Dad, by Robert KiosakiYour primary residence (unless you do a house hack, a lot of information about that on this website) is NOT an asset.

Also, house hacking might be a method that can work for you if you don't already own a personal residence.

My business currently resides in my commercial property. 

I am currently looking at two possibilities one a foreclosed SF home and the other a duplex with renters occupying the residence.

@Katherine Weekes Not an expert, but if you hold the property & mortgage in your name, you can be held personally liable & all of your assets are at risk: personal residence, 401k, savings acct, all of your investment properties, etc.This could happen in a worst case scenario where someone dies in your property & the jury awards a verdict beyond what your insurance covers OR if the person dies due to something excluded by your insurance such as mold.

I have family in Nashville and am looking to purchase/relocate a primary residence in either Franklin, Mt.

I have been turned down by BofA, citing high DTI (90%?). One of the reasons is I claimed losses on my 2 rentals. Any other ideas I can pull money out from my primary? 

@Daniel Pitta In my opinion Background checks are the number one best way to vet a prospective tenant.Many things fall under background checks like calling their employer and previous landlords.Also I know some PM's that like to sneak and peak in their car and see if is junky, if so they is likely how they will treat your property.Also these same people will find an excuse to stop by their current residence and look in the door for the same reason.W-2 paycheck verification.No evictions in last 5 years.Tenants make 3x the rent.If they can't come up with all move in money don't rent to them.They ones that beg and plead for you to rent to them you should run from.Make sure they have stable employment - same job or in same field for 2 years or longer.Get a larger deposit than 1 months rent to encourage them to give you proper notice when they move and that they don't try and use deposit as rent when they move out and that they also leave your property in good condition.