In 2021 we bought the building for $1.5M using private lenders, pushed the occupancy from 50% to 80% occupancy and it appraised for $3.125M, allowing us to pay back the private mortgage.Right now, we are in the predevelopment process of design and piecing together the capital stack for the redevelopment deal, which will be made up of historic tax credit equity, RestoreNY Grant, DRI Grant, etc.

It would be wise for a buyer to feel confident that the building is in good structural condition, that it has a certificate of occupancy.

I have a pro forma  using very pessimistic occupancy/booking percentages (worst case scenarios) which identify a very nice cash on cash return, and the ARV will (again, pessimistically) be at least double the purchase+rehab costs. 

Are you going to send over a PM to remove your mechanicals in between each STR occupant if there's down periods with no occupancy? 

@Justin Jefferson-start with a house hack-read up on how to house hack-call a lender and ask about owner occupant loans for small multifamily

Single-family homes benefit from a larger buyer pool, appealing to families and owner-occupants, which makes them easier to sell.

That is where the magic happens and where true connections that can enhance your journey are made.

Thanks for advice.High-demand short-term rental markets like Orlando, FL, Phoenix, AZ, and Nashville, TN are great for house hacking because you can leverage the high occupancy rates for STRs to offset your mortgage.

And what your prior occupation was/is  do you have monthly retirement pay from a W 2.Or are you self employed your whole life and the only one that is going to help you in retirement is yourself.. ??? 

You could also ask for early occupancy so you can begin to collect rent and take all the holding expenses off their plate.