There are old motels all across the country that can be repurposed into STR units, eco resorts, etc. with a fraction of the risk. 

In this case COC will increase and exceed CAP Rate (i.e. this is classic leverage strategy, it’s why corporations issue corporate bonds).

The classic rip off I believe was in Florida, where developers were selling condo sites or land, when the buyers actually found where their land was, they needed to wear waders and fight off the gators.

dchild=1&keywords=landlording&qid=1593895999&sr=8-1This classic book on managing rental property, widely known among landlords and landladies as their bible, has been in print for thirty-nine years, has sold over 375,000 copies, and has twice been selected as one of the top ten real estate books of the year by nationally syndicated real estate columnist Bob Bruss.This latest edition has been thoroughly revised and updated and includes both the eighty-four forms in the previous edition plus TWO new ones.

It probably depends on the facts and circumstances (like the exact numbers, the market, etc) but I have always been against the classic situation...

I have a recent, short blog post on the "Classics of Landlord Lit" (all books you may get at the library for free or for a song used).

Give them the classic "i was talking to a friend and he offered me 450k for it, do you want to pay 450k because i said id sell it to you"

It’s the classic decision of cash flow vs appreciation 

Paul - I can say with some confidence that the classic 60/40 model is not well positioned for the years ahead. 

@Julie McCoy those were pretty classic!