Hi everyone,I’m exploring a unique development opportunity involving my property and neighboring parcels, and I’d love some advice on how to move forward.My neighbor is currently in the process of building 54 townhomes on the property directly in front of mine.

Detroit is appreciating rapidly, due to many factors, and it still cash flows or at least allows you to operate near break even.

So your 35% operating expenses makes sense and seem plenty conservative to me.  

May just be a one off experience but that was mine.  

I get into contract in my operating company and then assign the contract to the new LLC prior to closing.  

There is a house near mine that is abandoned.

Commercial Revenue Generating properties like office buildings, apartment buildings, retail centers, etc (banks call it "CRE" lending) are typically evaluated from their net operating income, not gross.

He was at the heart (and brain) of a fantastic educational operation – one that was undervalued because he did not charge much for it.

If you are a STR operator how do you deal with remitting and paying tax?

I keep mine a little below market to prevent turnover.