It seems as if there will be some upgrading of the units, are you anticipating a sale or refinancing out of the subject to different mortgage afterwards or is that the long term debt instrument you want to keep?

If you're not careful you can easily end up paying $200/mo in subscriptions without even realizing it (this has been the case with my partner and I, between video game stuff and music and entertainment, etc. etc...).

Now our tenants have been there for about 3 weeks and every night there is shouting, people coming and going, and loud music in their driveway which butts up against our house from 10pm - 3:30am. 

This is why it takes any culture a while to reach a level of prosperity where some individuals can dedicate themselves to music, art, philosophy or science.

Stocks, Mutual Funds, CDs, Bonds, Etc.All of these financial instruments are for capital accumulation.

I'd look near White Oak Music Hall...it has the feel of a neighborhood on the rise. 

@Josh Randall thanks for asking, I should get a better idea over the coming month, your point about experience, one of them has been in the business for close to 20 yrs, and did very well until the music stopped, the euphoria of the crazy returns got to many, and the game changed from running properties well to flipping properties fast, Asset management wasn't given the attention it deserves because you were in and out before it mattered.

These mortgages can be assumed, however, and are non-recourse (if your name is a musical instrument and you were a reality TV star, and made cameo appearances in WWF, this might be the type of mortgage you get for some of your projects, which might ahem wind up being front page CNN news). 

The lower interest rate inherited from the assumed loan and the rental income from your initial property can be instrumental in financing your next real estate move.

The support of the Town of Hilton Head Island, Graves Construction, Parker Design Group, & The Sea Pines Resort are a few of the many instrumental people who made this project possible.