The rental space is a totally different ballgame than what that kind of Realtor is used too.

Maybe the queen of RE taxes @Natalie Kolodij will be kind enough to weigh in and provide some good advice. 

"Do you need to sell for cash or not"I do not discriminate forclosure absentee owners, black white blue stinky sexy...I don;t care, and the reason is...

The business would be disqualified to his IRA if his equity is >49% or if he has any kind of control over the company equivalent to a director position.Even if the business is not disqualified, there could be issues with the transaction if it creates any kind of direct or indirect benefit to the investor.

Thanks for the kind words!

Apple Valley is kind of like not a good area at all.

@Derek MortimerGet the books, run your numbers based off of what kind of returns you want to see and throw them an offer based on that.

I would target mortgage payments of about 40% of gross rents if you want some kind of cash flow.

With this kind of tenant, I would suggest you even figure out a way to see if she/he is still even in the unit. 

What kind of rates can you expect on a commercial loan for a property like this?