HOLD & REFI - The improved cashflow (I have one lender saying he could get me into a DSCR loan at 6.5% which would 3x my cashflow) is enticing, but I'm don't want to risk anything especially having been burned once and would prefer to be on the up and up. 

I haven't spoken to the county yet, but will make that phone call today.As far as financing -- I was leaning more towards getting a business line of credit or using a business credit card and rolling it over to interest free cards.

I was a commercial lender for over 20 years and hotels are high risk / special use for most banks.

Feel free to inquire about their staff qualifications if it's a larger organization.2.

I would never ever let tenants go alone.. risk of theft and getting your property stripped or worse sqauatter is just far to great.

You are also putting yourself at risk working that way.

.- To utilize the Mills Act requires a few things: An application (not free), inspections, and most importantly a contract with the city in which you promise to rehab and maintain the historic nature of the property.- The inspections are only 5 years, but tenants are not likely to take care of them home as well as you, and refurbishing hardwood, lath and plaster, and anything else is going to be much more expensive than the typical Landlord special (white paint, and grey LVP)It will all come down to making your numbers work.

I’ve done a lot of research on these projects, so feel free to ask any questions here.

The risk is that they take only the things of value and leave the rest for you to clean up.2.

I recognize that commercial real estate is struggling, with ~30% vacancy in downtown Portland and homelessness issues, but I believe this property’s tenant stability and quality make it a lower-risk option.