@Jonathan Klemm that is great advice for first time buyers!

While the property is in a smaller town, it’s relatively close to a larger city, which I think adds a lot of potential for attracting both short-term guests and long-term tenants.The motel has fewer than 16 rooms, and the nightly rates are extremely competitive for the area.

It also will help you a lot to learn how to properly calculate ARV as your buyers will want to work with those wholesalers more than one who is just throwing properties at them.

These updates made the property highly attractive to tenants.

I’ve tried talking to cash buyers, but the rates are so low that we would have nothing after selling it.

With the current mortgage rate constraints affecting how many buyers are willing to enter the market we are seeing a lot of borrowers have success with the BRRRR strategy with plans to sell in the next 3-5 years when interest rates go down.Researching potential LTR and STR rental amounts and seeing if holding for a few years is a viable option is a good analysis to do well. 

@Zachariah Prevost You stated that when a bank goes to sell the home loan to Fannie/Freddie or any other willing buyer for that matter, that they are stripping away the Mortgage/DOT from the note.

It makes the property more attractive to students and can justify slightly higher rent.

I think it would give it a little bump in value but it all depends on the buyer.

That makes sense from a buyer and renters perspective.