Overall, this seems like a strong deal, but make sure to factor in potential surprises or changes in market conditions.

However, Allstate is capping their landlord insurance at $750,000, which creates a coverage gap I need to address.I’m looking for options to add at least an additional $750,000 in coverage and am wondering if anyone has experience with Difference in Conditions (DIC) coverage or Excess and Surplus policies.

Here in the northeast I suspect you will find summer months are actually more profitable: longer season, longer vacations, and far less variability in conditions, which ultimately drives folks to the mountains.I’d also be cautious about looking only in the shadow of the big mountains, particularly in place like Newry or others where all your eggs are in one mountain basket.

If you are one of those, the MAIN question in the present thread is not for you.The MAIN question in the present thread is specifically for people who:1) Bought at least one tax lien certificate at an auction in 2023.AND2) Have since decided to no longer buy tax lien certificates at an auction.If you meet the above two conditions, please state the main three reasons you have decided to no longer buy tax lien certificates at an auction.The reason I am asking is this.

One thought was to move the thermostats from the apartments to a single conditioned space and place temperature monitors in each unit to make sure the apartments are at a comfortable level.

TERMS- Deal Type: Seller Finance- List Price: $580,000- Purchase Price: $780,000- Seller Carryback: $693,000- Total Entry: $100,000 Breakdown: Assignment: $13,000 Down: $87,000- PITI: $2,657 Breakdown: Principal & Interest:: $2,000 Taxes: $464Insurance: $193- Rent: $5,250 ($750-800 per unit)- Amortization Years: 28.88- Interest rate: 0%- HOA: NONE- Balloon: NONE- EMD: $5,500- COE: Feb 12, 2025- Occupancy: Occupied, Occupants staying post closing- Title company: PROPERTY DETAILS:MULIT-FAMILY7 Units - 2B/1B per unit- Living sqft: 5,200- Year Built: 1940- Age of Roof: 1- Age of HVAC: New- Age of Water heater: New- Condition of Electrical: Good working condition- Condition of Plumbing: Good working condition

W-2 status isn’t a choice—the IRS determines it based on work conditions.

I would remind them that the house is in the condition in which they rented it and they accepted it as is.

Although I conducted a basic septic inspection during the closing, and the system is in good working condition, it still failed the STR inspection.

Quick question on those who have done seller financing:- Buying a 0.3 acre downtown fort lauderdale multi family, negotiated an around 1M price w lot of development rights, double lot. seller got it way back early 90s for pennies- got good credit 800+, w2 job etc put 40% down and mortgage bank offered 6.62% 30yr fixed (CF negative as this would make current rent roll not too much compared to the PITI)- property is in ok condition, needs 20-30k repairs which seller OKd, and all 3 tenants are month to month, pay bit under market but also ok- seller would like to do seller financing, interest only at 5.75%, 30yr amortization at 7yr balloon (CF would be positive) - id be paying some principal as well, just to grow some equity- buying this deal for the future development of the area (las olas, kushner broward crossing) so not really worried even if we overpay for it now, but never done creative finance as i always relied on a strong W2 job to get good loans but obv im used to 3% 30yr rates from covid times not this 6+ environment..Goal is to hold the property 3-5yrs, and then actually develop it or sell half the land / refinance, pull out HELOC if it appreciates.Questions:1) What does he know that i dont?