I've gone through the process of shopping out a loan for the property and it was decided that I'd go with a loan originator who initially told me the interest rate would be anywhere from 5.5-6%.

It's always good to shop around for rates and program options

First, I went to the lender and asked if we could do a loan modification instead of me shopping around for a new loan that might not be with them at a lower rate and for a modest processing fee they did that.

Look at census data or local reports.Explore the Neighborhoods:Amenities: Properties close to schools, shops, and transit tend to attract more tenants.

I'd be happy to talk shop with you, feel free to reach out and best of luck this season! 

With the exception of a few “loan to own” shops, the lenders don’t want these properties.  

Author is Avery Carl with The Short Term Shop.  

RandyThanks Randy, sure I will start to shop around .

This is holding me back a little and I am currently shopping for other lenders, banks.

Appliances and fixtures were old and tired.Basically, the core bones of the property were good, but there were a lot of things that seemed ripe for easy improvement.The location was great, right next to the town’s primary commercial district, with a grocery store 100 yards away, coffee shop/bakery, Post Office, drugstore, hardware store, hair and nail salons, barber shop, dentist, bank, a half dozen restaurants, and a variety of other shops and services.