Navigating the zoning requirements, dealing with Maryland Historical Trust limitations on what can and can’t be done to the property, and the financial burden of renovating the property to meet these standards have left us trying to figure out the best strategy so the property doesn’t just sit unused.If we decide to sell, we anticipate pricing it at around $70-$80 per square foot, which is an incredible deal for a property of this nature.We’re reaching out to see if anyone here might know of potential buyers interested in this unique opportunity.

That and the incredibly low cap rate in '22. 

When a vacancy comes up in a good apartment on SFO, operators often have literally hundreds of extremely well qualified applicants at incredible rates.

Not having future bookings cancelled at the moment.

Incredibly the seller accepted my offer with no counter, and we closed 2 weeks late.The second example occurred about 4 years ago.  

Overall, if youre comfortable with keeping the rate and payment you have at the moment, apply the difference toward principal reduction.

My pleasure Sara,None with Drew.I don't like him that much lolJokes, I'm a fellow property manager and was fortunate enough to meet and speak with him about property management, etc...He created an incredible operation and I look to him for guidance with my own company.Thanks and much success

You could do a DSCR loan as well but I would bet that rate will be high also at the moment.

@Jim Pfeifer built an incredible community and BP/PP can take it to the next level. 

"Your success as an investor will be determined by how you respond to punctuated moments of terror, not the years spent on cruise control." - The Psychology of Money by Morgan Housel In real estate, it's not the smooth sailing that defines us, but how we navigate the storms.