It’s been a learning experience, and I think this is the push I needed to start looking at properties that the value comes from the NOI.

I know that if a cost seg, l would need to back that out of my California return.Your answer seems to confirm what I suspected.

Definitely something to clarify upfront...If you’re replacing with another restaurant, it should be an easier transition since the setup is already in place.Your biggest risk is vacancy $450K/year is solid, but if you ever need a new tenant,  ensuring the lease rate is sustainable is key! 

Quote from @William Dorrough: I currently either purchase and value add large scale multifamily properties or develop, and build ground up my issue with scaling is we have done this without brining in investors i have a great deal flow with a good track record im really looking to do more i have the capacity but have the need for more capital in one way or another  Scaling without investors can be tough, especially in multifamily.

Any advice would be much appreciated!

Much too difficult! 

If it can be used as a STR it's going to have septic, well water and need Starlink for internet.

I can into this at length so if you need more details let me know but for the sake of time - it's allowed.3.

(i.e. if the loan limit is $400,000 and the property costs $800,000, then I need a $100,000 down payment plus closing costs).

You do not need a court hearing to move forward.You can read my book to get more details, but you essentially have a couple options. 1.