Respectfully,James Hinkle

Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proI really like the alerts feature that can quickly guide you to current topics that might interest you: http://www.biggerpockets.com/alertsThere are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides

Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proIf you haven’t checked it out already, the Bigger Pockets blog features links to their awesome podcast and many great articles: https://www.biggerpockets.com/renewsblog/

MichaelDon't take this wrong, but with all due respect, you'll need a ton of cash to buy a 16 unit property because you're not really bringing much to the table with beat up credit and no income.Having said that, my suggestion is to do what numerous people have done in your shoes and that is get the 16 unit property under contract and then sell the contract. 

They do not provide meaningful oversight or guidance with respect to tax code compliance.A checkbook IRA LLC is an enhancement on the above structure that is generally more time and cost efficient for investors with a more diverse portfolio. 

Please be sure you adhere to your respective state guidleines.Please check out the Oregon Self Storage Association (http://www.orssa.org/) as your first stop to research specifically how to collect on the outstanding delinquency and what you can & cannot do, as well as when exactly you should do X, Y, & Z.The general advice? 

You can even make multiple offers that are based upon cash, conventional financing or lease-option respectively, with each being at a progressively increased price, since needing less upfront cash may be worth a higher purchase price.

@Brett Roth QSST's are a little tricky because the QSST election causes them to behave as grantor trusts with respect to the S Corp...most of the time.Items of income, loss, deduction, and credit passed through from the S Corp to the trust are included on the income beneficiary's tax return as if the trust is disregarded.Current income from the S Corp is required to be distributed annually as well to the income beneficiary. 

Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proThere are a few self-contained guides that you can access here: https://www.biggerpockets.com/guides

Many members are experts in their respective fields related to real estate investing, whether that is real estate brokerage, wholesaling, flipping, buy and hold, lending, self-directed IRA and Solo 401k investing, or tax and legal guidance.There are some pretty cool discounts on various products and services offered as Perks to BP members that you might want to check out: https://www.biggerpockets.com/perks/proIf you haven’t checked it out already, the Bigger Pockets blog features links to their awesome podcast and many great articles: https://www.biggerpockets.com/renewsblog/