It has had tremendous increase in value, tremendous cash flow but I have taken both depreciation and cost segmentation depreciation.

Now, with an increased demand due to SFH buyers crossing into the market segment, the supply is low and prices are at or higher than single family.

The market for studio buyers for that size is a small segment.

That market segment is in over supply so that is one area to keep your eye on.

It is not new and not entirely unique - though relative to Wall St, yes, a very minute segment of the retirement industry.

As funny as it sounds even the areas you mentioned can be segmented.

In this area and that market segment, if you have 70 DOM with only 2 showings that is likely indicative of serious mispricing.I agree the marketing is crap, although pricing may be a bigger problem.

I used to work with developers on commercial land development assembling parcels so I know that segment as well.

If the fed increases the fed funds which is directly linked to prime (usually 3.00% or 300 Basis points above fed funds) it will cause your HELOC monthly payment to go up immediately.The upside of a fixed loan is that you get all of your money upfront and you lock in that segment of money for a fixed duration and term so there are no surprises in monthly payment.

If you goal is to sell it to an investor . . . are you concentrating your marketing for that segment or to a homeowner?