And, even if you could find an appraiser to do an evaluation, it's not clear how that would help you.As you state, the motel has been shut down for nearly three years, so there's no current financial data.But even if you had recent numbers, you're planning to operate it as a sober living facility, which I suspect is a very different business model.You need to find a comparable facility in or near your local market and develop your own customized financial analysis model based upon this particular property.Then, given your business objectives (cash flow and cash-on-cash return, I assume), you'll need to back into what purchase terms you'll need to achieve those objectives.Only then will you be able to determine whether these seller financing terms will work.As far as documentation to get started, a letter of intent (LOI) is commonly used but you might move straight to a purchase and sale agreement, particularly if no agent is involved.Whichever path you choose, just be certain to give yourself plenty of time to thoroughly perform your due-diligence.

No I have not been in person, and what you are describing is exactly what I'm worried about.I will say that I do have a contractor who I trust to do an honest thorough inspection (I requested several references who all gave positive feedback, and the one property I did ask him to inspect he found a major structural issue and immediately told me not to considering buying it).It seems like when most people run into trouble its because their estimates of vacancy, maintenance, capex were all too optimistic.

My focus, as I begin my journey in real estate investing is building a solid foundation through education and thorough market research.

Once the reports are returned, we verify references and occasionally contact a past landlord to ensure thoroughness.

One of the key lessons learned was the importance of thorough due diligence, particularly in understanding the local market and the specific needs of potential tenants.

I don't know a ton about tax lien investing but my advice for note investors is to be selective as to when you order title reports (can get pricey if you run too many), but it can be wise to pay a bit more (two-owner search, for example) for a more thorough search for those assets you are likely to purchase.

That still does not take the burden off the tenant to read their lease thoroughly and make themselves a reminder.Note, because we sign student leases for UNC-CH for the upcoming school year 9-12 months in advance, students need to renew (or not renew) ~9 mo in advance.

The primary lesson from this project was the importance of thorough planning and execution in renovation projects.

The market here is very investor-friendly with affordable property prices and a robust rental market.Expanding to new areas can be challenging, but here are a few tips that have worked for me and my clients:Research Extensively: Before diving in, thoroughly research potential markets.

I did have it managed by a company that only does str mgt and thoroughly checked them out prior to signing with them.