Thing is this, they want multiple data to follow their trajectory, they think one indicator like inflation data is not sufficient to make cut decision, they are then waiting for the employment to collapse to start printing again as they want to make the pain in economy as long as possible.

It will take a long time to have a sufficient population density in this area to justify significant development.In summary, I do not believe the area south of Enterprise and the Sloan area will be developed in the foreseeable future.

Most lenders will cash out at 75-80% (max) on the repaired value with three months seasoning.

We had a borrower who first three loans did great and this fourth one is in default (we are in first).

Yes they can do averages based on what they saw on the last three remodels. but have zero clue as to the little nuances that pop up on every job.I would find a good General Contractor and pay him to help you with this.

As far as renting out rooms, that would probably be the most feasible option but not going to work for our family (we have three small children thank G-D)Would love to hear if you have any suggestions!

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.

Quote from @Cole Brittner: Quote from @Travis Biziorek: I have three tenants on Section 8.

My understanding is that Brian Burke sold his portfolio by 2021, and has by and large sat on the beach twiddling his thumbs and working on his tan for the last three years.

It takes a while to build a consistent and sufficient income to replace your W2.