Personally I would pick option 1 because you cash flow is already high and so a slightly lower cash flow with higher LTV has relatively minimal impact on cash flow.

James manages quite a few properties and got into this by working several years at one of the larger national PM companies.

What are my options at this time- specifically Can i place a lien on the land without a court order?

If I purchase this and quit claim deed it to my LLC, who pays the mortgage?

(don't think we have time or knowledge to pursue that) . alternatively the lender has asked us to work with a commercial lender.. we have not done any commercial loans so far, but basic research provides core diff is the 30 yrs vs shorter duration 10-15yrs in commercial + ARM (floating). 

What made you interested in investing in this type of deal?

Iso g this info you can better determine projected vacancy based on factors you can control on top of the fact that you could have other amenities or the best presentation that would help minimize vacancy.

I believe this is critical to the overall business plan and financing strategy for getting this facility back up and running.

Why is this a post?  

New to this and looking for some advice.