Luckily, this property cash-flows no matter what I do with it, but had I not taken the time to find that out I could be in another property that would not sit as pretty as this one. 

I am assuming this is the same case for carrying that passive rental loss over to the flip (because flips are considered "active income" also) which means I'm sitting here with 25k in cash that I've got to pay taxes on.

I also intend to sit down with a lawyer and get some advice on what exits I can include in the contract.  

To educate potential investors, you have to sit down with them and explain the passive investment process, how it all works, and how you make money as a syndicator.

Is this a good time to buy or perhaps sit and wait for the market to be more stable?

I never recommend my investors buy those, but they are sitting awhile.

The lot is zoned commercial, but has a residential 1848 sqft duplex sitting on it. the lot size is 0.28 acresi was thinking a studio or 1 bedroom unit in the backyard can help cashflow it but thinking about what would it takeThanks

While you string them along with promises, contact your bank and have them recall the original wire due to fraud.

I'm sitting at 11 years active duty and 5 doors.

Sit behind a desk waiting for business to fall on your lap will get you nowhere.