I think Chris makes a good point of determining the strategy - performing 1st position notes is always a safe "dipping toes in the water" type of note to go with. 

Income Late fee Gross rent Expenses Advertising Cleaning Gardening/lawn mowing Insurance Interest on loan(s) property tax Legal expenses Pest control Property agent fees/commission Repairs and maintenance Water charges Electric Bill Total expenses Net rental income or (loss)

I usually pay ~$25/drop in.

You may have water traveling down the bedroom wall, then across the dining room ceiling to the lowest spot which happens to be there.

.* They dropped to $520K, we countered with $465K.* Our agents met and we learned that the lowest they'd go was $510 because of a HELOC* We offered $520K with $10K seller credit to be used for closing costs.

Unfortunately, you said some magic words that chum's the waters so que the "please contact me PLEASE CONTACT ME" replies vs actually answering to what you posted...... 

So unless the Fed is willing to start dropping hundreds of basis points at a time and without doubt unleashing a significant inflation "spring", or Fed's stepping in to convey some form of CRE finance relief something...... well the math is clear, Q1/Q2 '25' is gonna get real interesting real fast for Commercial Properties. 

I wanted to drop in and share some of our journey with creative finance.

Don't forget about paying to start electrical, gas, water and internet services.

The big deals will be vacancy, capex and appliances. (3 water heaters, stoves, fridges, microwaves?