Chattanooga is bustling, Steady yearlong traffic, new housing developments going up everywhere you turn your head, countless jobs being opened in this region, new highway construction to widen our 3 lanes into 5 lanes, a new MiLB stadium in the works, and many many more things.

I am a local Long Island Real Estate Agent covering everything from investment opportunities, development opportunities, home selling, home buying and everything in between. 

And, even if you could find an appraiser to do an evaluation, it's not clear how that would help you.As you state, the motel has been shut down for nearly three years, so there's no current financial data.But even if you had recent numbers, you're planning to operate it as a sober living facility, which I suspect is a very different business model.You need to find a comparable facility in or near your local market and develop your own customized financial analysis model based upon this particular property.Then, given your business objectives (cash flow and cash-on-cash return, I assume), you'll need to back into what purchase terms you'll need to achieve those objectives.Only then will you be able to determine whether these seller financing terms will work.As far as documentation to get started, a letter of intent (LOI) is commonly used but you might move straight to a purchase and sale agreement, particularly if no agent is involved.Whichever path you choose, just be certain to give yourself plenty of time to thoroughly perform your due-diligence.

In the world of development you have money at risk to complete these and other reports, legal, zoning, permitting, environmentals, etc before you go hard on your deposit with a seller.

We dealt with rentals, flips, commercial, small apartment complex developments (~10 apartments), sport facilities, and a few government contracts.We are actually very open to different opportunities and investment approaches, but our plan was to start "smaller" with some cash deals in NJ (maybe somewhere in the area between Staten Island and Philadelphia, but staying in NJ), by flipping a few smaller properties and starting to generate some income.

In Florida, short-term rentals (under 6 months) are subject to a 6% state sales tax and a 6% Pinellas County Tourist Development Tax (also known as the "bed tax").

The Columbus OH is on fire because of the great macroeconomics - job growth, population growth, and major companies developing here (Intel, FB, Amazon, Google, etc.).

Part of what I do in developing Workforce Housing How did you find this deal and how did you negotiate it?

I've lived here for a few years and have my own rental in the area - tons of development between RWJ, Johnson & Johnson World Headquarters, & Rutgers University, plus there's a direct train into Manhattan. 

Hey wondering if any of you can share some experiences of owning a condo that you STR in USVI.The feedback I've received from my broker is the following:"Unlike many places around the world, development here is different and more difficult.