If you ever have any questions as a new member feel free to reach out I enjoy helping. 

For example, a property in San Diego may lose $500 per month ($6,000 per year) but gain $60,000 per year in value, making it worthwhile to "lose" money each month in exchange for long-term gains.I recommend you start with BiggerPockets Ultimate Beginners Guide (free).

TY You have a few different options, but a cashout refi on the free and clear property is probably simplest. 

Feel free to connect if you have any specific questions about, but this is the best general advise.

Start with BiggerPockets Ultimate Beginners Guide (free).

Here's a breakdown of the situation:Current Occupancy: 80% (16/20 units occupied).Current Gross Rent Roll: $14,265/month.Market Rent Potential: $17,665/month (100% occupancy).Renovation Needs: 15 units require full renovation ($10K/unit), 4 units are 75% renovated ($2.5K/unit), totaling $160K in renovation costs.Vacancy Loss: $41,820/year in lost income due to current vacancies.Cap Rate AnalysisThe seller lists the cap rate as 9.59%, but this is based on the projected NOI of $119,858 (assuming full occupancy and market rents).

Looking to connect with any investors, realtors, property managers, contractors etc from Fort Wayne :) Feel free to comment or DM!

And while yes, no one has the same pricing (combination of factors), I also continue to check on a regular basis our rankings and how we "present" on total costs per stay vs. our competitors.My gut says there is price creep and we might have a ways to go before the market really corrects.

$7,500 invested in the market at 8% return over 3 years is close to $9,500 in total. 

Wishing you the best and feel free to reach out anytime.