Don't much care for the winters so I am often daydreaming about buying something in a warmer climate to escape to when the northern dreariness sets in.  

@Dan Weber:  yeah, I agree that Option #3 probably makes the least sense....it'd be fun, but take a lot of time for a fairly minimal upside@Roger Evans: Option #1 w/re-investment in other properties was my original plan (was ideally thinking of putting the $400k towards a single, 8-12 unit property vs. 3 or 4 smaller ones, mainly due to the challenge of finding good deals in our region...especially in current climate, but if you know of a batch of $500k 3-4 unit deals in our area, I'm all ears!

I agree with all points about looking at comps, saving on commission, negotiating down on price but depending on @Steve Kim's goals and the local market climate, rejecting this deal solely off of the CoC return % may not make sense.

An eroding tax base and increasingly anti-business climate is to blame.

I whole heartedly believe in climate change and am curious if other investors take into account how a region will be affected by a changing climate when choosing whether or not to invest.

I suppose it makes sense based on the current lending climate. 

An unvented crawlspace, if not air conditioned, will most likely be a nightmare, especially in hot humid climate.

Hello fellow BP family. I hope everyone is doing well. How's everyone feeling considering the current national and global issues and situation with regard to real estate investing? I'm trying to stay positive and focu...

I get it . . . in a busy climate you can ask for the moon and someone will give it to you, but UNLESS that GC is willing to front ALL materials costs then they're wanting you to take the risk and they earn a partner's keep. 

Now with businesses forced to either comply or adjust how they deal with social distancing (think theme parks, beaches, restaurants), our climate is much easier to move outside to accommodate those types of businesses.