It's reflective of the city's 1980's land use code, the restrictive elements therein, the complexity of getting permits and the massive growth that has occurred over decades. 

The landlord must be pretty confident in their ability to re-tenant the building, and/or aren’t pressed to make their mortgage after Best Buy leaves. 

The reality is you’re putting such a low down payment and the ability to finance all of the renovations, all at record low rates.

I ended up owning about 200 SFRs in the mid west because of the credit freeze and no ones ability to refi a non owner occ loan.. 

Additionally, eliminating your monthly housing expense will greatly increase your monthly savings rate and accelerate your ability to get to deal #2!

I am confident in the business plan coming to market and our ability to generate business.

Temporary lowering your rent does not affect your ability to raise them later.Empty units provide no income and you are paying utilities, just be sure to hold your rental criteria high.

I have read that for a vacation home you have the ability to only put 10% down instead of 20%.

Slumlords usually band aid everything and you want to fully understand what you're getting into.The only way I wouldn't purchase a property like that is if I did not have the ability or resources to turn it into a better, more livable property. 

The good thing I've seen with short-term rentals is the ability to try it out for a bit and then have the option to go back to long term if the STR doesn't pan out.