Are you currently investing in your hometown or are you looking at out of state markets?

Quick question on those who have done seller financing:- Buying a 0.3 acre downtown fort lauderdale multi family, negotiated an around 1M price w lot of development rights, double lot. seller got it way back early 90s for pennies- got good credit 800+, w2 job etc put 40% down and mortgage bank offered 6.62% 30yr fixed (CF negative as this would make current rent roll not too much compared to the PITI)- property is in ok condition, needs 20-30k repairs which seller OKd, and all 3 tenants are month to month, pay bit under market but also ok- seller would like to do seller financing, interest only at 5.75%, 30yr amortization at 7yr balloon (CF would be positive) - id be paying some principal as well, just to grow some equity- buying this deal for the future development of the area (las olas, kushner broward crossing) so not really worried even if we overpay for it now, but never done creative finance as i always relied on a strong W2 job to get good loans but obv im used to 3% 30yr rates from covid times not this 6+ environment..Goal is to hold the property 3-5yrs, and then actually develop it or sell half the land / refinance, pull out HELOC if it appreciates.Questions:1) What does he know that i dont? 

Likewise, marketing in general.

You can also look further back in time to get comps maybe up to 2 years but that would be pushing it and you may wish to adjust for any appreciation in your market. 4.

At what point do you start marketing?

@Virginia Frost What market/city are you targeting?

Always good to connect with others in the space, especially in the Orlando market.

I would say it could be done, just need to have the following:#1 - Have great overall knowledge of that market, and better than agents.#2 - Learn how to run comps so you know the value of the property better than anyone. #3 - Have finances in order (i.e) is this going to be bought through conventional, cash, HML, etc.

I have a registered architect and structural PE on staff.Looking in the small multifamily market currently

Insurance market across the country is very tough, especially for older product.