You can't compare those properties so what you are doing is looking for a diamond in the rough without doing the due diligence.

You chose a property manager without shopping around and comparing multiple professionals in the market.

Shoot me a dm and let’s get together and compare notes!  

Recently, I started using CMA (Comparative Market Analysis) to get comps.For those of you who are familiar with CMAs, do you have any pointers on how to best use them?

The rents are still growing on the smaller ones too as I think the rents compare favorably for people coming in when they look at a nice hotel room for 150k to 200 a night or a one bedroom cabin for 200 a night. 

One thing that helped me when I started was getting super familiar with the local market and building a network of reliable folks (like other investors and contractors) who could make the process a lot smoother.Feel free to reach out if you have questions about investing in Michigan or want to compare notes.Best, Travis

Their comparable sales are almost always significantly inflated, and they lack the expertise to accurately budget for renovations.

If you can claim real estate professional status, you can offset the losses from the real estate against the income from the retirement distribution.You may still be subject to the 10% penalty.The good thing about a condo is that you pay potentially be eligible to depreciate more of the property compared to other types of residential properties.Best of luck!

I’ve seen buyers in situations like this secure terms for primary residence use compared to investors.. so it might actually work out in your favor if your buyer wants to live in the home.Funny enough, a friend of mine ran into a similar situation in Austin last year.

Traditional Lending for Investment:DSCR (Debt Service Coverage Ratio) loans do generally carry a slightly higher interest rate compared to traditional investment loans, typically 1-2% more.