Acquiring it below replacement cost, especially in a growing market like Panama City, could give you a significant edge both in terms of cash flow and long-term appreciation.With your track record of completing 17 syndications and managing over $500 million in multifamily assets, it’s clear you have a deep understanding of how to unlock value in these types of deals.

First I want to thank you for reading, I am new to the investment market and the idea is exciting and terrifying at the same time.A few facts:Purchase Price: 325,000Rental Income Estimate: $5250Property details: This is a 3 door property:1. 1/1(main building)2. 3/2(main building)3. 2/1(separate building)Repair estimates to get all 3 properties up and running: $145,000 - $200,000I do not have a ARV since its very unique there is not anything we can compare to but I am looking to get a third party appraisal.Plan is to do a mortgage for the property with cash down payment.

What’s your biggest question or concern about diving into the market here?

The tenant of this property is a brick and mortar retail business I own and the current market value of the property is approximately $1.5M.    

It would be nice though if they communicated and if they need to ride it out so be it thats just the market we are in for those types of assets.

If market conditions change or unexpected expenses come, you might find yourself over-leveraged.Cash Flow Considerations With both a hardmoney loan and a HELOC, your monthly obligations will increase.

Purchase price: $320,000 Cash invested: $90,000We bought this property off market from a wholesaler what first started out as a partial renovation ended up being a full renovation.

I also believe there will generally always be a demand for gc's/contractors in the long run and it is a real estate adjacent which would keep me "in the know" for off market deals and opportunities in my area.

I'm wondering if there is a market or demand for wholesaling seller carryback deals for mobile home parks.

I want to invest in my local market (Rochester, NY) and most likely in one of the suburbs.