Most of my CFO clients that are in residential development are looking for IRRs (usually over a minimum 5-year period) in the high teens and the commercial developers are looking in the low to mid 20% range.

The property offered a balanced investment opportunity—enough to significantly enhance its value through renovations, yet manageable in scope and cost.

@Johnny Lynum we did offer them an aggressive cash for keys amount to get them out as soon as possible.

-------------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

The payments and interest are high.

The combination that this niche offers first-class care to those that need it most and the potential for it to become profitable for many years to come definitely has me interested in learning more about opportunities investing in RAL.We are renting in our current assignment, but we will PCS in about a year and a half.

for months, a company out of the metroplex has been offering to buy it.

For the price, the property has a lot to offer.

Quote from @Jules Aton: If you are doing high grade laminate that should be good.

I can also offer some insight into where you can find and create partnerships.