Are your losses locked up against your passive income?

This could be an opportunity to add value by offering to help with clearing or relocating those items as part of any potential agreement.Why This Could Be a Good Move for YouYou see long-term potential in the property, especially with the large lot and development possibilities (even if those are years down the line).As the current tenants, you have the advantage of a direct relationship with the landlord and familiarity with the property, reducing competition and risk.This could be a chance to lock in a property that you might otherwise lose if it hit the open market, especially in today’s competitive environment.Challenges to ConsiderIf the landlord is emotionally tied to the property or reliant on rental income, they may be reluctant to sell.Financing could be tricky, especially with today’s interest rates and the gap between the current rent and what a conventional loan might cost.The development potential you’re interested in is likely a long-term play, which means the property could be financially tight in the short term, especially if you’re only breaking even or slightly negative on cash flow.Structuring a Potential DealTo make this feasible, you’ll likely need to explore creative financing options that align with both your financial capacity and the landlord’s goals.Seller Financing: Propose a deal where the landlord acts as the lender, allowing you to make monthly payments directly to them.

I think your demographic might be more hotel people rather than families.I would also still go with smart locks on every door.

All the guest rooms have separate exterior entrances so we put keycode locks on those and guests get the code via text a day or two before they arrive. 

It could be a tactic to lock you into negotiations or gauge your seriousness.

Some landlords use lockboxes or smart locks to grant temporary access, but that has risks if you don’t have someone to oversee things.2.Move-out Inspections/Cleaning: Again, you’ll need boots on the ground for this.

Are you locked in on the contracts with the current set of tenants?

I am perfectly fine holding X amount in real estate.If I do see an opportunity another option is to lock it up and sell one of my existing if I think this property will perform or appreciate significantly more.

We locked the property up for $240k knowing full well that we were in for a lengthy eviction process.Massachusetts is one of the most tenant-friendly states, meaning that evictions take time—sometimes a lot of time.

It's a 3 bedroom house and we plan to use technology such as a smart lock, WIFI exterior cameras, and a smart thermostat.