I think new investors who post here and take all the feedback as a whole, with a grain of salt, can really put it into play in real life and then discuss with investors at meetups in their area to get over the hump.

Redeveloping into mixed use live/work/play projects has been the most common proposed solution the past few years in my area. 

Leaves an immediate bad impression.Entry Door: This seems silly but make sure your front door opens and closes easily without the need to play around with the door. 

The specific assistance organization, the screening of the tenant, the property, and the PM company that should be communicating with the tenant all play a role in the success of your investment in regards to tenants.

I would only consider Decatur for a cash flow play, not an appreciation play.  

Happy to chat.Los Angeles is an appreciation play.

The STR part plays no part in the valuation like @Patricia Andriolo-Bull said.I agree that 20% is pretty fair, but you could self manage it once you get things in order.

@Tom HallAt 7% if you can I would pay it down as investing it net after tax gains may not get you the 7% you are paying - so it’s less riskDownside is you lose liquidity of that money as it’s tied in your propertyIf rates come down in future you can refinance and even take some of the cash out.Regarding your question are rates coming down, a lot of factors come into play but right now it does not appear there will be significant changes to rates over next 3-6 months.

But that’s the game we play. 

For example I know many who are now just lending because they are getting 10-12% short term which is far better than any cap rate on real estate. you do not have the equity upside as you do real estate but its a way to play the short game to see what happens over the next 12-24 months and decide when you want to buy.