A cash-out refinance can provide liquidity while keeping the property, though it carries risks.

The Local market is not what carries value.Quality based on grade of wood.We already covered general pricing above, based on Processing stage. 

And for the record there is a HUGE difference in the amount of odor in a unit from 3rd hand smoke which is what carries in in your person when you smoke like clothes smell and breathe smell vs the smell you get when there’s actually smoking in the unit.

Once the building is sold it generates a Section 1231 Gain and that can be offset by release of the passive losses from the syndicate that have been carried forward.

You just mitigate it as best you can, carry good STR insurance and roll the dice!

The under writing doesn't carry for a 1.25 DSCR which (at the moment) is the golden rule for banks and commercial hard money lenders. 

I took title to each in a separate series of my LLC, which is the same as per entity protection as having each in a separate LLC but with the organizational and accounting costs of having a single LLC.In the case of each I carried hazard and liability insurance for the INTERIOR of the condo while the HOA carried insurance for the “common” areas, including structural.This particular condo was on the second floor, with retail and office space directly below.  

You need to carry a special type of health insurance, not the traditional kind.

Some like to do owner carry and stack up the passive monthly income etc.

You will truly be raising the clock, as each day will cost you very significant money.  12% interest on $250k is $2500/mo, or about $80 per day in interest, not including your other carrying costs (utilities, property taxes, insurance, HOA).