Your input is truly guiding my next steps, and I’m grateful for the direction you’ve provided!

Action Steps to Start Building Passive IncomeResearch Your Market: Determine whether your area is better suited for short-term or long-term rentals.

We did a step-up of the $3.1M to $5M and having the other $600k from the appraisal gifted to the syndication. 

Constructed using all cash, the next steps are to refinance out of the project (Need assistance in doing so) How did you add value to the deal?

You'd also need to establish a budget, and secure a master insurance policy. i THINK you need to do these things before reaching out to your municipality to have it converted officially with the county or city but they would be the first ask for steps in order.i will add, this would make financing on these units a bit challenging, as in the mortgage world, at least initially, they would be considered "non-warrantable" condos.

We’re still waiting for next steps on that one re: borrower repayment or foreclosure.  

He bought two four-family properties in Brockton and ended up doing seven evictions in his first year.

Here's a couple practical steps I'd recommend to help make your decision:1.

There are several steps before evaluating deals, but you may have done them.

Will for sure try these steps.