Example: November 2023 sold for 500kListed under foreclosure for 260k now.Photos don't show any updates or signs of any rehab being started.My first guess it these were bought as rehabs without inspection and people found severe structural issues that they cant afford to remedy, which is common with the amount of water around us on Long Island.What other assumptions or conclusions would you draw from seeing listing like this one?

Also you can save a lot of money if pm has their own handyman employees and do not need to sub out all repairs. my experience is that STRs outperform LTR by enough to cover the PM fees, utilities, and additional furnishing costs but not much more.  

I'm 31 I never met one person who moved to Lehigh acres under 50 years old. no jobs, infrastructure, commercial, etc and no utilities either. just a land play that a developer made millions on in the past 

Quote from @Mark Torrefiel: Software is a common question on BiggerPockets.

One thing in common with all these guys, UPSELL!

And numbers I believe are up to $1,650/mo (or something like that) if you include utilities.

I love to utilize VAs!

I have utility bills and mail to show I live here.Originally posted by @Albert Bui:Originally posted by @Chris Miller:I Bought a house subject to 6 months ago. 

For example, the most common punishment for non-compliance is a fine of $500 to $1,500 per unsolicited message.

And, even if you could find an appraiser to do an evaluation, it's not clear how that would help you.As you state, the motel has been shut down for nearly three years, so there's no current financial data.But even if you had recent numbers, you're planning to operate it as a sober living facility, which I suspect is a very different business model.You need to find a comparable facility in or near your local market and develop your own customized financial analysis model based upon this particular property.Then, given your business objectives (cash flow and cash-on-cash return, I assume), you'll need to back into what purchase terms you'll need to achieve those objectives.Only then will you be able to determine whether these seller financing terms will work.As far as documentation to get started, a letter of intent (LOI) is commonly used but you might move straight to a purchase and sale agreement, particularly if no agent is involved.Whichever path you choose, just be certain to give yourself plenty of time to thoroughly perform your due-diligence.