What questions should I ask to understand the property’s condition and the heir’s willingness to sell?

My non-professional understanding is that those losses can only be used to offset income from that property.

I don’t completely understand how I could best put my money towards a rental property or fund one with the income that I am making.

Past success is a good indicator of future performance. understand the risk if the project takes longer or costs more.

This is something I aim to understand more about.

Here is my simple Top 5:1.Review the market – Understand the trends and conditions in the area.2.Analyze the property and the numbers – Ensure the deal makes financial sense.3.Visit the property – There’s no substitute for seeing it firsthand.4.Meet the team – Whether it’s your property manager, builder, or contractor, relationships matter.5.Complete inspections and appraisals – These protect you from costly surprises.If all these boxes are checked and the numbers work for your goals, then it’s likely a solid deal.

Thank you Nick - unfortunately it is the name of the game in this space that there will be people with bad experiences, typically when the appraised value doesn't come in as what they expect and they lash out at the lender accordingly (anyone in this space obviously understands this occurrence). 

Here is the BEST way to develop an understanding of the risks and rewards of redeveloping your propertyBEST - Hire a CRE - Counselor of Real Estate to do a complete market analysis.  

Make sure you understand exactly what they want to see and when, all through the build process.

I guess to get a definite answer I'll have to cold call to get see if all these people are behind on their payment or it's just a standard practice behind some salesmen!