It could have been kept alive with cash or perhaps private money if someone was okay with cash flow and no appraisal.Sounds like you have a good property and just need to see it, get aligned with someone you trust that can run true comps, take a look at the main house if you can, and see if the 203k is going to be an option with that particular property.Hope that helps.

@Nate Monson is a rockstar up there and can give you more insight on the area.No matter which route you choose, I'm sure it will align with your goals and get you to where you want to be.Best of luck to you moving forward!

Meet and align with other multifamily investors and owners.

@Amanda Young The best strategy is what aligns with your risk profile, goals and how much work you want to do.Short term and medium rentals can bring in more cash flow.

This would have never been okay if we both weren’t aligned and on board. 

I've known for 20 years that RE was a business that I wanted to be a part of but as with most things in life the timing of it all has to align so that it makes sense.I have a background in construction and always saw the value that was involved in RE when working in it but never had the money/time (or at least at that time my mindset thought that I didn't) to take advantage of it. 

Choose the path with your capital that aligns to your long term goals and back into your next step.

I'd get super clear on what your goals are and then pick a strategy that is going to align with them and stick to it!

FWIW, I am still acquiring property, but more selective in searching for the best opportunities that will align with my investing plan.

IMO, profitable deal flow, staying invested, and the ability to pivot with the market are key right now (and the largest challenges, particularly for us part-time investors).Deal flow aligns with #7 above...IMO, it IS investing and everything else downstream is not complex.Staying invested is not hard but staying invested in the right thing is.