Hopefully grow that to $10k/m in 2025, then JV on deals with my family while traveling.

Based on the question, I'm guessing you are trying to get out of a deal and you would have to come to closing with cash because the property isn't worth what you paid for it.Yes, you can probably get a higher price by selling the property subject to.

@Michelle Simoni seller-financing usually only works on sellers with a problem they are motivated to get rid of:1) Been for sale for 120+ days2) Nonperforming property3) Problem tenants4) Deferred maintenance issues5) No equity6) And obviously they want to get rid of the problem MORE than they need their cash out

Pre-pandemic we were averaging closer to 2%+ on most rentals, meaning if you were all in for $100K, the rents were closer to $2K.

I myself am in a similar position looking to acquire a secondary home in the Banner Elk and would plan on using as a STR and would love any input on your findings!!

I was going to write a whole essay on this lolAs a former developmental controller in NYC and approving checks when the construction/builder company was requesting funds, here are a few thoughts.Dual Controls:Require two signatures for draws $10k+ (banks enforce if set up).

That means your entire principal keeps on growing.

If you've got to ask a question on an online forum about managing an out of state or out of country renovation, you aren't ready to do this on your own.

Hopping on call with our realtor tonight to outline our next offer!

I charge a scaled pet fee based on the size of the dog with a premium for high risk dogs.