And along with that, any insight into GP/LP on a project like this would be helpful.

If you don’t mind a little more advice…when I’m running projections like this, I like to use the worst case scenario and if the numbers don’t work out in that scenario, I usually pass on the deal.

I'm an experienced project manager with hundreds of cradle-to-grave efforts under my belt, including building project scopes and budgets, evaluating contract proposals, and managing construction to maintain the delivery of high quality products on-time and in budget.Penny is a licensed clinical social worker (LCSW), serving the community mental health needs of parents, children and families.We both recognize we have an immense opportunity to serve our community and want to capitalize on the blessings we have been provided so that we can continue serving our neighbors.My wife, Penny, and I are looking to transition into commercial multi-family real estate in 2025.

“it is VERY hard to screw up when buying i.e. a duplex in good condition in a desirable neighborhood and either self-manages or hire a quality PM to manage.”excellent point 

I have been following the Real Estate Investing industry for a while and just recently decided to put my focus into it and implement a plan I had in mind for years.So I went down to Puerto Vallarta I put together a team of local realtors, brokers, contractors, property managers and a lawyer. 

I would take all of the details of your current properties, project what the sale would be, and what does that leave you to invest?

Analyzing the neighborhood and the asset condition is the key to projecting accurate returns. 

If not I would suggest finding a servicer to collect and manage that note. 

Yup, property condition, vintage, neighborhood, tenant base, property management are all very important considerations. 

However, consider STR seasonality, local regulations, and management demands, and ensure your equity loan and new primary residence costs fit comfortably within your budget.