80 unit commercial building, sell or keep

[Bob Stevens]

I just went to contract last week on an 80 unit (each unit has 3 -5 offices, used to be all doctors/dentist offices) in Euclid OH, rehab budget of 1 mill, should be a bit less. Net income about 450k on 750kish gross. I can flip the contract (to a cash buyer) for 1.8 mill so the buyer will be all in under 3 mill, ARV about 4 mill, or I can keep, not sure what to do.

[Scott Trench]

I think we need more information to help you out here. 

But, without that information, I'd flip the contract. You don't sound like you have a fully thought-through plan on what to do with this property if you keep it. The buyer might, so you move it to the highest and best use, and make a nice profit. 

Interested to hear what others think.