Right now there's huge concentration, but as this continues to build out and we see north of the high 30s GW by 10 years from now it'll be almost a requirement to keep some type of locality based risk assessment and to diversify. 

LTRs do not face those types of situations. 

However, I’m not sure how to accurately determine its value, given the configuration and the fact that it’s not fully rented.My Concerns:Determining Value: How should I calculate the fair market value for this type of property?

Risks: rates go down and you have to pay a prepay of 2 or 3 %; you have to sell and pay the prepay; rents decline & you can't make the payment like any other type of loan; cost upfront a little more than conventional; need to find experienced broker licensed in the state where subject property sits; servicers are bulldogs. 

Reach out to a loan broker with your exact info and the exact or at least type of property you want to buy and they should have options and opinions. 

Purchase price: $55,000 Cash invested: $25,000 Sale price: $119,000 Bought at around $50kFixed up at around $20kSold at $120k What made you interested in investing in this type of deal?

I actually think it is a benefit to both parties to have professional representation to assist the seller and buyer with these types of transactions.

What type of loan are you in the market for ? 

Yes, how would I find these type of properties?

Any type of investment real estate anywhere in the US can be sold and replaced by any other type of investment real estate of any number of properties anywhere in the US.Washington to CA is perfectly fine.