:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

Buying in low barrier markets for cash flow is a good story that lots of people are sold on but historically those who succeed buying in these markets  benefit from an appreciation event.

The aggressive buybacks, financed through warehouse lines of credit.Investors' Response to Distress: The U.S. office market faces historic levels of distress, with over $38 billion worth of properties at risk of defaults, foreclosures, or distress.

One commercial space leased to credit tenant, the second historically operated as a restaurant but is currently vacant.

In the end It is likely the whole property could eventually go to a developer but the apartments are a historic granite building so they would have to stay and building out would be in the house and barn area and the acres behind (currently treed so little maintenance). 

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

This makes it easier for landlords to find tenants and generate steady rental income.Favorable Landlord Laws: Florida has landlord-friendly laws, which can provide landlords with more control over their properties and make it easier to manage rental units.Tax Benefits: Real estate investments in Florida can offer various tax benefits, including deductions for mortgage interest, property taxes, and depreciation.Appreciation Potential: While past performance is not indicative of future results, many areas in Florida have historically seen strong appreciation in property values.

Also when purchasing properties try to stay from the Historic district, each city here in Hampton Roads does have them, and the Historic Preservation Commission can be a pain to work with.  

Congratulations to you for taking all the steps to get to this point.Although I'm not in the DFW market, I am in the Milwaukee market which is also in a historically low inventory position.

There might be some differences with your capital account, however depending on some things.But overall you just plop the asset with its adjusted basis and historical depreciation onto the new fixed asset listing of your partnership tax return.