@Theresa HarrisThe bank is not the one who lost 100% of their investment / they took a 10% haircut where the limited partners took a 100% loss.The bank was not the one who mismanaged the asset, tried to increase prices that were not sustainable and were slow with evictions.The GP mismanaged the asset and could not pay the mortgage.

But the agreement made it very clear I would not set up a PM because my brokerage has an existing PM arm.

I am also a mortgage agent so im able to underwrite my acquisition and exit with a high degree of confidence.

My goal is to have a property where I can put 5-20% down, and be able to airbnb it to cover a decent chunk of the mortgage payment and be able to visiting a couple months of the year.If anyone has any experience with this I would greatly appreciate to connect with someone!

My concern is that currently, the monthly mortgage payment (~$2,700) will be higher than average rent for a 1 bedroom (~2,400). 

I don't even think mortgages existed at that time.  

It seems this market is ideal for cash flow, as rents seem to easily cover mortgage, taxes, and more with plenty left over for profit.

Have you contacted local commercial land brokers and not existing building ones?

The mortgage is in the name of my business partner.

This will reveal any existing liens, easements, or encumbrances on the property.County Records: Review the property's history and any associated documents in the county's official records where the property is located.