In its current state:Current NOI: $79,058 (based on 80% occupancy).Current Cap Rate (at $1.25M): 6.32%, reflecting the property’s as-is performance.Value at a 7.5% Cap Rate (Market): $1.05M, based on current NOI.Given the renovations, vacancies, and risks tied to stabilizing the property, I’m considering offering $850K to reflect its current state and value-add potential.

If that is all ok then get a very good local realtor to run comps in that area to determine the conservative value of the home once you've completed the renovation work(ARV).

Bank Financing How did you add value to the deal?

A property doesnt increase in value just because an STR is run successfully on it. its value on paper is based on the comparables in the area.

Tampa has a lot of value-add opportunities in gentrifying areas where you can snag deals that balance growth and stability.

I used the proceeds of the primary residence I owned in NC to grow a portfolio of value add buy and hold here in College Station.

Being a broker myself, I can attest to the incredible value you can bring to clients by understanding not only the brokering side of things, but the application of those funds. 

Please reach out if you are a lender or can connect me.5 Bed 2 Full Bath & 2 Half BathExisting Mortgage ~$550,000Home Value ~$1.1+ MilSounds like a great deal.

While I doubt I'll be investing here (terrified that property taxes and the pension debt will ultimately cripple property values), I'm always interested in meeting new people.

Driving for dollars How did you add value to the deal?