But if you have a cash buyer who is specifically looking for income property, and even more specifically a vacation rental property,  I firmly believe that there is a value add from having a working STR there.

DO NOT purchase or rent from these groups!! 

The first question is how do I exit the property if I purchase it?

I have referred a loan out of state based on NOI, cap rate at purchase, room for increase income and purchase price vs market value.Maybe I didn’t articulate the intent of the post as clearly as I hopedFor anyone who has bought multi family out of state, “what are gives you the warm and fuzzies about a deal”:Obviously not cap rate, but maybe vacancy rate,  Cash on Cash ,GRM, IRR, Unlevered free cash flow, Cities over 250k?

Purchase price: $1,300,000 Cash invested: $130,000 Sale price: $1,650,000 We work with an investor who purchases the house and secures a deed in his name.

Ok to use an example or intended vertical blinds vs receipt for purchased blinds? 

Purchase price: $565,000 Cash invested: $125,000 Listed Price: $585K (originally $585K, 30 days on market).

Purchase price: $214,000 Cash invested: $180,000 Sale price: $550,000 Old VFW building What made you interested in investing in this type of deal?

By purchasing this property, I now have very little money, but I still want to invest.

Some were purchased specifically to be MTRs & others were conversions when it made sense.