Prices for office building nationally are lower by an average of 45%.Older buildings with obsolescence of layout, electrical systems, locations etc are valued 70% + lower than 5 years ago.  

Since it is vacant it should be easy to access. 

(Data USA)Affordability: The cost of living in Lincolnton is about 7% lower than the national average, with housing costs being particularly affordable at 31% below the national average .

Sure more wear/tear and you will need to adjust down the monthly rate but might be better than having a lot of vacancies with an STR or LTR with lower monthly rate??

This increases profitability, lowers expense. 

That way you have access to the equity if needed for something.

Then when they get down to the last few properties or have lower inventory then they "fire sale" them out causing the market to take an immediate down price.As I mentioned to my investors multiple times last year and this year stay away from New construction or New builds in smaller towns or as the last few phases are being built if at all possible unless you are building your own multifamily 2-4 unit rentals.

I have a few rentals but lower taxable income, what are the best options or lenders to consider for a cash-out refinance to pay my private lender back? 

My husband and I own/manage a few LTRs and MTRs in Texas and we are thinking I might qualify for Real Estate Professional Status in 2024 with all the hours I put into our properties (and growing properties :)).We have spoken to our CPA about requirements but I am feeling a little overwhelmed at how to log these hours in an efficient, accessible and manageable way. 

So, if you are fairly well funded ($50,000 cash) you can buy 3 times as many properties and get much more equity and cash flow using creative finance.New Bank LoanTraditionalSubject ToTake Over Existing Loan - hasalready been paid down somePurchase Price$400,000$332,196(Take over existing loan)Down 20%$80,000$10,000To SellerLoan Amt$320,000$332,196(Take over loan)New Loan Payment Rate 7.75%$2,293$1,465Take Over Payment Rate 3%Difference$828Your Savings per monthOther$0$0otherLoan Origination Fees 2%$6,400$6,400Your Savings On Loan FeesClosing Costs$3,500$3,500Closing CostsCost for length of Loan$825,307$490,512Your Cost for length of Loan$334,795Your Savings overLife of the LoanUsing Bank Cost to acquire$89,900$13,500Using Us Cost to acquire$76,400Your Savings Just ByBuying Using Subject ToTotal Savings$411,195Your Savings Totalw/Subject To0 .Why would you pay today's price at today's high rate when you can buy a house at a lower price, that has a lower rate and has already been paid down by the seller?