Once the Caesars Casino opens (2024) they’re anticipating 2 million visitors a year, so now’s the time! 

The anticipated rent per unit is $1,700-$1,900, annual rent 68,400I’ve been quoted a 7.125% rate on a 30-year fixed mortgage from a direct lender with no points w/ 5,4,3 prepayment. 

Navigating the zoning requirements, dealing with Maryland Historical Trust limitations on what can and can’t be done to the property, and the financial burden of renovating the property to meet these standards have left us trying to figure out the best strategy so the property doesn’t just sit unused.If we decide to sell, we anticipate pricing it at around $70-$80 per square foot, which is an incredible deal for a property of this nature.We’re reaching out to see if anyone here might know of potential buyers interested in this unique opportunity.

In my case I have several liens that will likely make 3 years at the end of this year, so this will affect all of them for me and everything else over the next couple years.I've flown in to attend some in person sales in CO and for the most part I was ok with the premium bidding as I anticipated getting a decent amount of deeds at the end of the day.

There really isn't much yard and no grass for a landscaper, so would not need a landscape contract, but I was not anticipating the amount of maintenance for weeds and debris.

Particularly if you move in after using it for investment for only that 2 years you anticipate. 

Graphic projections will be created to anticipate when capital expenses might occur.

If it’s worse than you anticipate, you can always back out of the deal.

Since you have access to a mentor and financing, flipping could be a good option to generate capital quickly, which you could then reinvest in rental properties.Foreclosures: Flipping a foreclosure can be profitable, but it can also come with hidden challenges like repairs that are more expensive than anticipated.

Now that I have a property manager, I heard the %18 and believed that to be the total expense without realizing the additional (cleaning fee, lawn care, state taxes, pool care), etc...so the effective rate is much larger and my net take home much less than I anticipated.