A friend of mine in Austin once negotiated a partial buy back option when the seller realized they might want back in if the market soared.. from what I read in Bloomberg, that approach can work well if both sides trust each other.If the tenants’ rent covers your carrying costs, that’s a nice cushion, but you still need to clarify that buy back clause.

@Alba Cheung It would be nice if you provided us with an update.

Anyway have a nice holiday week.. 

I just like to list places and keep them posted so I get a chance to talk to nice new people, like you.

With your balance sheet and cash, you can put together creative deals without giving up equity and without using your cash but you are going to need to find a market and product which has 7-8% cap rates.I invest in the northeast, Great Lakes area.Diverse economies with education, healthcare as the back bone and tech as growth.In your area, you’ll have to raise way more capital in the form of equity just to meet DSCR with the banks.

since as part of the project you are going to need an architect and civil engineer, I recommend starting with them and ask them who they have worked with for zoning.

We still find buyers (and renters) that like open to a degree but want / need the office space for remote or hybrid work arrangements.When dealing with a market that does not have huge spreads on properties, one needs to define what is really important versus what is nice to have and see if the math works. 

Nice!

To add to @Ashish Acharya, I would recommend using your retirement funds for notes that earn a nice interest rate, if you're into self directing.Given that you want to purchase a short term rental, I'd highly recommend not doing this within an IRA/401k. 

It is very nice with above average amenities and priced just $500 over what it would rent for as a non-furnished 12 month lease rental (I have two of those nearby so am very familiar with comps).