What he does not know yet is that selling even with a loss, is not going to be easy either.You don't need to make all your money on your first deal.

And unless you go into some very rough areas, you won't find double digit cash returns.

We’ve hit the ceiling in terms of what we can push on rent, and it seems like this year might be the right time to sell.- One of our projects has fallen so far behind that the only viable option to get back on track is an early exit.

If so, you can't really pivot to short-term rentals there and have to capitalize on the inn vibe and in-house services.My major question is why is the current owner, who bought it after it sat vacant for twenty years, looking to sell you the problem they can't fix?

A couple options… 1) Coast as is until March for better selling season, more buyers, higher price. 2) Raise the rent at least half way to market.

People selling dreams really, not so much anything usable. 

Sell 5 keep the six free and clear.  

Sell and 1031 into MFH.  

It's the complete opposite where I am - no one will sell their existing homes because they won't give up their ultra-low rates.

If it’s in California they will chase you for state income tax if you ever sell your new property, even if you exchange out of state.