And will you have ongoing maintenance issues beyond your CapEx based on the building's age.I personally would be suspect of this deal.

Does this matter if you're not optimizing for building a ton of wealth to pass onto kids? 

I'm still in the process of growing my portfolio, but have heard others 1031 all their smaller properties into a larger building and have a property management company manage, OR, set up a seller financing deal with another buyer that gives you the cash flow you desire. 

I had a client considering a building on that edge that you mentioned just yesterday.

Along with your list, consider building a local team in each market to make managing your STR easier.

Today, I used those proceeds to purchase a 5-unit commercial retail building without coming out of pocket at all.

When you can access the opportunities first, you can qualify the lead first, analyse and find the best deals first, reach out and build rapport first , offer your solution first (rather than having your offer thrown on a pile of others the individual has already been given) and so on.

I’ve done a couple of fix and flips but I’m looking to build a rental portfolio.

Hello Evan, I have helped a number of Bigger Pockets investors build their portfolios in Syracuse and surrounding areas.

This has pluses and minuses.If your property is bulletproof such as no framing - cinder block construction, cement floors, gloss white paint slapped on the walls and a cheap window mount AC, then you are in a prime position to make money with S8.