- Do you have reserves or access to capital to make repairs/updates to the property?

We were not able to recover any yard damages due to other damages they had left that needed repair, which empted out their security deposit.

If you have any cap ex left in Palm Bay (like an HVAC major repair or roof) you will lose cash flow for years.

Also some plumbing repairs were needed but nothing major. 

Zero-percent business credit lines can be a great tool to fund renovations, repairs, and even serve as gap or bridge funding when working on a BRRRR deal.

If that is the case it would require a 1031 which is just another layer to the process but ultimately not really that complicated.Without knowing how much repair work would be needed it's difficult to give specific advice.

But if this is your first investment property you may want to talk with a property manager to see  if you are maximizing the amount of rent you can get and what repairs/maintenance work is needed before renting the place out. 

During this renovation period would you, as the lender, want an Actual Cash Value or Full Repair Cost policy in place?

Hi Stephan happy to connect I'll be in town soon so feel free to Dm me your phone number

They won a good portion of them that is now being used to fix/repair for all buildings & condos.