There is a room between the 2 bedrooms that would be maintained as a flex space/ It's a great house and a lovely neighborhood but....

I am curious to learn more about this very interesting space and to meet and connect with other members. 

Property is 1/3 an acre and has space to build 4-8 cluster homes behind the main house.

As a HML since the late 80s this space along with the syndication space is just full of these stories. it is so important to make sure you invest with sponsors that are rock solid..

One of the items was "termites in crawl space" - truthfully we never saw any termite evidence they are extremely rare in our area and only in the crawl space.

How does any first timer like me venture into this space without knowing what the cost of project going to be?

I haven't seen a lot of people (or anyone, really) doing a combo of STR and MTR in a shared space.

Of course like I said I am not in the note space Chris and @Jamie Bateman will have better answers but the things I mentioned jump out at me. 

Not as much as multifamily but still more than STNL single tenant or 2 to 4 tenant type retail center properties.The larger centers they live or die by the anchor tenant so really have to know if that tenant owns or lease the space, when it was last re-imaged inside and out, and what sales they do per sq ft year over year and how they have been trending.Larger retail centers have defaults from smaller tenants with covid right now to work through so offering should have reserves built in for some not making it so buy in cap rate on existing NOI might go down in the short term as tenants are lost and tenant replaced.

This platform is an excellent space for networking and learning.