Since comps are limited, analyze similar nearby locations to estimate demand.When pitching investors, focus on a clear business case: expected income, expenses, occupancy, and ROI.

It has a lot going for it from a long-term rental/cash on cash return perspective, but I’m not too sure about short term rental demand and occupancy.

Usually the numbers don't work to build in these neighborhoods, unless government tax credits, etc.CCLBA has really cheap parcels for sale for owner occupants.

And if you bought this property several years ago, then you probably already have a killer rate, so suggestions to refinance seem silly as you probably already have the lowest rate....especially if your refinance was completed as you were an owner occupant, and not categorized as an investor to a Lender.In terms of tax implications, again, it depends on what your ultimate goal is, but if you placed this into a trust, or even a beneficiary deed, it would pass through to a beneficiary who would not have to pay capital gains on it in order to sell it. 

@Rene Hosman The only time I've seen them is larger buildings that have financing and the success of the project is contingent on a certain occupancy number, but then again what project isn't :) That being said, I'd always write concessions to start on the second month of full rent.

I purchase my 1st multi family in Durham last sept, I was debating between str and long term, I went with str and I am loving it so far. my dec occupancy is Unit one 2b1b: 82%unit 2 studio: 79% So far so good and already thinking of getting another one in 2025 🤤 These are great numbers for this time of year!

Wondering about investing and then filling the park up to get to full occupancy. 

If you are going to be an owner-occupant, want a low down payment, and are planning to do a renovation, the FHA 203k and Fannie May Homestyle loans are your best optionsHow do you know the property is currently upside down on the mortgage? 

The violations would include 'the personal occupation of a garage as residence' while asserting to police that he didn't live in it, along with the power overloads due to use not in keeping with a garage rental.  

We might wait for the in motion project to get to say 40% completion or occupancy before we start the next one.