Purchased my own rentals and grew my portfolio to over 7 figures.

You could create a cash flow tree showing how you can snowball the income $ to purchase more and grow. 

My out of state clients have completed successful flips here and the purchase price points are still very cheap.

@Katie Miller is it better to purchase "Real Estate Rookie" instead of "Rental Property Investing"  Or both to learn from different view points? 

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.

@Amy KimRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

Any other advice.Thanks in advance,Josh@Joshua Metzger congrats on your first STR purchase and welcome to the BP forums.1.

I recently purchased a duplex and the landlord policy $3K per annum. 

@Sharad Bagri There should be no requirement to be accredited to purchase a multi as long as you have the requirements met to get the loan.

What I thought I would finish it 6 months took 1 year and part of the reasoning for that was because I changed my general contractor a few times after I purchased the property