Purchase price: $320,000 Currently have a long term renter, the rent pays the mortgage and other expenses but provides no cash flow.

Inherently the steps are the same as if you were purchasing with financing save potentially less closing costs and ability to close sooner (if needed).The terms of your offer (ie -contingencies, closing cost splits etc) will determine what is different. 

Owner-occupied commercial properties generally get better interest rates and terms when compared to pure investment properties. 

Verifying last 2 years of rental history and income extremely important to find the “best of the worst”.Make sure you understand the Class of properties you are looking at and the corresponding results to expect.The City of Detroit has 183 Neighborhoods we’ve analyzed.DM us if you’d like to discuss this logical approach in greater detail!

She can use that money to get a hotel room or short term rental....or stay with family or friends.

However, I'm drawn to the long-term benefits of multifamily properties.

Hi Anthony, what's your biggest priority - cashflow or long-term appreciation? 

The term Certified Broker is intentionally deceptive in my view. 

If its not someone you know the lender will dictate the terms.

Quote from @Joy Daniels: I manage short-term rentals in the Sarasota area, and I'm always looking for innovative ways to boost occupancy rates year-round.From your experience, what marketing strategies have had the biggest impact on keeping your properties booked?