We ended up going back to the tried and true Excel Spreadsheet.

Your buyer had a 1031 exchange funds and paid the entirety of the 8 plex purchase in cash?

Every day is an amazing experience  helping investors and clients find the right property. .

The owner’s mortgage balance is $315K and they have an interest rate of 3.5% and the PITI is 2126.

Hey @Justin Brown, what @John Underwood said is spot on.SLC has been restricting STRs for a long while now and it isn't going to get better.People who have STRs in areas where they are not allowed are breaking the law and will eventually pay the price.Having said that, you should check and see if there are certain areas where it is allowed in some way and that is why they exist there.

I'm new to real estate investing and looking to connect with any local investor.

> not everyone and maybe even a small fraction will probably try to solve their problem based on the law you quote.I hope so.

I eventually tracked down the lady who owns it, gave her a call, and we had a friendly conversation about her house and real estate deals of her past.

With LTRs if he is married and his wife can qualify for REPS.

My wife and I have collected every payment of rent since starting out.