As far as more technical financial analysis you mentioned above, I have found it is easiest to track these items in excel - I just update the workbook each time I analyze.

Can someone recommend a VERY simple app or software program for analysis and bookkeeping?

Also, looking for answer as to what are the tax implications at RMD stage? 

@Bryce Cutler I am in the very beginning stages of working with realtors but the realtor that I am in touch with now is pretty professional and she works for ReMax. https://remaxaruba.com/team/58 Michelle Zichem is very professional and knowledgable. 

As part of your deal analysis, you need to do a Risk analysis on the location.

This rise underscores the continued strength of the multifamily sector, with over 60,000 units absorbed during the month, setting the stage for a potentially record-breaking third quarter.Midwest and Northeast Markets Lead the WayLouisville, Kentucky, continues to dominate the multifamily market, leading the top 50 U.S. markets with a year-over-year asking rent increase of 4.3% at the end of July.

I’d have to take some time to do some thorough research on STR as a strategy and do a thorough market analysis.

And, even if you could find an appraiser to do an evaluation, it's not clear how that would help you.As you state, the motel has been shut down for nearly three years, so there's no current financial data.But even if you had recent numbers, you're planning to operate it as a sober living facility, which I suspect is a very different business model.You need to find a comparable facility in or near your local market and develop your own customized financial analysis model based upon this particular property.Then, given your business objectives (cash flow and cash-on-cash return, I assume), you'll need to back into what purchase terms you'll need to achieve those objectives.Only then will you be able to determine whether these seller financing terms will work.As far as documentation to get started, a letter of intent (LOI) is commonly used but you might move straight to a purchase and sale agreement, particularly if no agent is involved.Whichever path you choose, just be certain to give yourself plenty of time to thoroughly perform your due-diligence.

Make a list of LP deal analysis and share. 

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