I am a small business owner with like a dozen employees .

Currently, I'm pursuing a BA degree in Business with a focus on Finance and a minor in Real Estate.

Some mentees will act as a bloodhound for the mentor, knocking on doors, driving for dollars, scouring the internet, making cold calls, or performing other services that help the mentor find new deals.

If you are installing them in 2024, the amount of bonus depreciation is limited to 60% and you can therefore only take 12.75% in the first year (plus normal remaining depreciation for a part-year asset).I'm not sure how the split would work between the residential credit and the commercial credit as this may be reported separately with the partial business use allocation happening first.

If you use a DSCR loan like some others have mentioned, licensing works differently since that's a business purpose loan.

It might be worthwhile to keep son and daughter off title and just have them mange them and run the business. 

Is that how you want to start in this business?

My business partner found it, and we negotiated the deal with the owner of the property, who was about to lose it since the city had condemned it.

Yes, in some cases - and I would caution that such cases are rare - it could be a theft/casualty loss or an ordinary business loss.

If it is passing through you may need Workers Comp. on your business.