Here is how I see this deal:Gross Rents: $5,485Operating Expenses: $2,742NOI: $2,743Mortgage (commercial); $4,014 (20 yr, 8%)Monthly LOSS: $1,271 OUCH!

The rental loss offsets your personal income tax.

I'd also like to read it to see if losses to multiple properties from the same event (i.e. a hailstorm damaging all 4 homes at the same time) have seperate deductibles or one deductible for the entire event.

Besides ending this lease and evicting the Tenant, the Landlord can sue the Tenant for unpaid rent, other damages, losses, or injuries.

Some of the most important things to ask the seller are to provide you with income statements/ profit and loss statements.

It sounds like you're answering some of your own questions but you want someone else to say it out loud :)Cut your losses and sell it.

Losses could be done the same way.

Ask about full replacement coverage, rent loss, & liability insurance as a part of the premium.As you keep asking questions & talking to qualified professionals, you'll learn what you need to know, which will make the process seem easier (& less stressful) as you go along.

We have discussed a variety of options as to how to structure the deal once we turn it into a rental or sell it for a profit/loss?

After a couple years the principal pay-down alone offsets most losses you'd see anyway.