Key Factors for a Good Seller-Financed DealCash Flow: Rental income should exceed monthly payments (PITI) by at least 1.25–1.5x.Purchase Price: Compare to ARV and market value for fair pricing and equity potential.Interest Rate: Aim for competitive rates; higher rates must still allow positive cash flow.Amortization/Balloon Terms: Favor longer amortization and align balloon payments with your exit strategy.Down Payment: Lower upfront costs reduce risk but should meet the seller's expectations.Flexibility: Seek no prepayment penalties and fair late-payment clauses.Property Condition: Ensure the property’s condition matches terms through inspections.Seller Motivation: Assess the seller’s willingness to negotiate favorable terms.Exit Strategy: Have a clear plan for refinancing or payoff at term end.Portfolio Fit: Ensure the deal aligns with your financial goals and risk tolerance.Vetting multiple deals and consulting professionals is crucial to making sound decisions.

We have been able to save up some money for our first turnkey multiple unit building.

I really like the multiple income streams from one property.

Play the long game and hold onto that equity. 

So it's a waiting game for that property until you have enough to do a cash out refi.

Thank you Nick - unfortunately it is the name of the game in this space that there will be people with bad experiences, typically when the appraised value doesn't come in as what they expect and they lash out at the lender accordingly (anyone in this space obviously understands this occurrence). 

When it comes to the STR game, differentiation is critical, and that can be challenging with a 550 square foot oceanfront condo. 

I’m pretty sure if your eyes go straight to an air vent, that is bad design 😂😂😂😂 I knew the game room needed a refresh but if that was the focal point I guess it was worse than I thought lol

Connecting with other investors was a game-changer for me when I started.

The good news is that it will still serve as a house hack when we move, as there are multiple units on the property.Our concern is that it is in a high fire prone area.