Does anyone have recommendations for a contractor for an almost full gut property in Rochester NY?

At a 7% annual return, this could grow to $908K after 10 years, providing immediate liquidity and diversification.Alternatively, holding the property could yield $825K net equity after taxes in 10 years, assuming a $900K sale, with the potential to defer taxes via a 1031 exchange if reinvested into another property.

However, you could buy a property with seller financing.

Essentially, your new replacement property will consist of (1) a thirty plus year ground lease on the real property you already own; and (2) new capital improvements made on the real property you already own pursuant to the new thirty plus year ground lease.

Wrong Property Management ApproachIt doesn’t matter how good the people who are doing the property management are, if they are not using a property management approach designed for co-living, everyone loses.  

Did you still have the bad tenant or was the property vacant? 

Makes complete sense to purchase a property that breaks even or loses money.

Managing tenants is probably the most frustrating task of all the task associated with owning rental property.  

Nice property in Texas and the entry is 12k.

Congrats on finding a property and a willing seller!