Given you and your investor both have experience in different areas, I’d say keep a flexible approach and compare city requirements before putting too much money down.

You can also do value add STR & Multi-Family Rentals by starting with distressed properties and using a bridge loan to acquire them with a lower down payment compared to a DSCR loan.Networking – Connect with local investors, wholesalers, and realtors in your target markets.

Compare that to Tierrasanta, where market values hover around $3.01 million for a similar project, and it’s clear that location is key to making SB-9 projects profitable.Agents, this is where you can shine.

This would also be where an appraisal would be ordered in a traditional sale, but if using a hard money Lender, they have probably already evaluated the value before offering you terms.5.

The idea is to convert a multi-family building into condos; but not in the traditional sense where you separate pre-existing apartments into their own condos; but in a way where you combine the common areas of all of the apartments in that whole building, and turn the individual rooms within those apartments into condos themselves; thus transforming the hallways, kitchens, bathrooms, living rooms, dining rooms, porches, balconies into common areas of the condos. 

@John Kirtley It's definitely gone up a lot in value, but you can compare the values to Folly or Isle of Palms (Sullivans isn't really comparable) to see the future growth.

I would use an experienced broker who can shop around and help you compare best terms on a National basis.

Examples might include areas in the Midwest, Southeast, or Sunbelt regions.Multifamily Properties: Consider duplexes, triplexes, or small apartment buildings to increase unit count and spread risk across multiple tenants.Short-Term Rentals: If you’re comfortable with the management requirements, STRs in vacation or business travel markets can offer significantly higher cash flow potential than traditional rentals.Value-Add Properties: Look for opportunities to buy undervalued properties where you can force appreciation through renovations or better management.Decision FrameworkRun the Numbers: Compare the projected cash flow, equity growth, and tax implications of selling versus holding with a refinance or HELOC.

Major brands like Ritz Carlton and Waldorf Astoria are currently developing property there, where they have traditionally developed in Miami, Fort Laud, and Palm Beach. 

.- Analyze Comparable Properties: If you’re working in a specific market, reach out to other landlords or property managers with similar assets.