I'm looking at a company that is for sale with the real estate included. It is all part of one entity, he owns the real estate outright and is not currently paying rent to himself or any other entity.

Assuming I would use the SBA 7A and 504 products, what is the correct way to model cash flow in this scenario? If I add in a market rent expense and include the real estate cost in my debt servicing, wouldn't I essentially be paying twice for the real estate?