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.

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.

We are both originally from there and her dad owns a tobacconist business on Broadway.

Quote from @Jordan Rodriguez: yes, the mortgage is under my llc and I'm the only sole proprietorCash the check in your business account  

Now, I've added wholesaling mobile homes to my business which is another way to build up cash as an investor. 

We don't know anything about your property, you, your business, your risks, what you care about, etc. 

You are taking a business risk by signing a contract with them.