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.

Compared to markets like California, Memphis offers more affordable property prices, along with strong rental yields and steady appreciation.

Exchange rates are very favorable on the Euro compared to the dollar as well.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Compare that estimate to the $5k withheld from default contractor. 7- Prepare a delivery of the documented unfinished work, written detail with photographs, a copy of the replacement contractor estimate, with a termination notice certified mail to the default contractor.

Most likely if you rent it, it will not cash flow to cover the mortgage so you could still be losing money every month.IT would be good to compare what options is better for you. 

This approach could offer significant tax savings compared to the LLC strategy.

Maintaining good credit for favorable terms, larger down payments for better rates, managing debt-to-income ratio, comparing interest rates and loan types, projecting cash flow, understanding property preferences, exploring loan programs, maintaining financial reserves, planning an exit strategy, and seeking professional guidance.

However, it also faces economic difficulties, high vacancy rates, and  slower property appreciation compared to booming markets.If you're an out-of-state investor without local contacts, examining census data can provide valuable insights into Youngstown, Ohio.

I am curious to hear what other thoughts are on this compared to working with a broker-dealer / advisor who invests in alternatives?