Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Does this approach seem reasonable, or am I undervaluing the property?

Are there any creative ways you’d recommend for me to identify and approach motivated sellers or uncover foreclosures?

I want to reach out and get feedback on where I would be able to find off market self storage facilities and how to approach the owner?

This approach ensures realistic pricing and helps avoid unexpected costs later.Good luck!  

Research the options available, compare their benefits and risks, and decide which approach aligns best with your goals and preferences.House hacking is a great start.

This approach could keep things straightforward while accommodating their need for housing.

Focusing on A-B areas and taking a hands-on approach definitely helps with maximizing cash flow and equity.

I would restate that the lease will remain in place until such time that a new tenant is selected and moves into the property.This approach will ensure your cash flow while acknowledging that 'stuff happens.' 

Currently, we are targeting multifamily properties of 100+ units, and have been actively engaging with various owners and brokers, submitting Letters of Intent (LOIs) and working to secure deals.While some may consider our approach bold for new investors, we are confident that, with the right team and expertise, we can succeed in achieving our objectives.I’m excited to be part of this community and look forward to learning from your collective experience.