@Rohan J.I think your forum question was featured in the most recent BP podcast for the fire round.

The town has a whole year round schedule of events for people to participate in.

This can be a completely hands free transaction too, we have property managers that, for 20%, will put your unit in a rental pool and have it filled all year round.

For a second I thought that a fresh round of capital has come into the space, but that was over a year old.  

I got into this situation because we have never used outside funding, we have only used profit from our other properties to fund rehab, but due to round 3 with cancer we had to put it on the back burner for a short period of time.

Example (I'll round numbers for ease); Buy property for 250K100K down from SDIRAs, 150K Non-recourse loan @ 5.75%/20 years (60% financed)30K Income, 13K Operating Expenses, 9K Interest, "Net Income" for taxes of 8K (before depreciation which would be 12K on whole thing).........................................................Does this the we would take 60% of the 8K "Net Income" or $4800 and then take off 60% of the 12K depreciation or $7200 to have a negative net income of $2400?

Never depend on the seller's vacancy numbers, instead figure out the market vacancy rate and round up.Taxes are always understated.

It was tough living with our parents for 7 months and commuting 70 miles round trip to Chicago from the northern suburbs to look at properties but it was worth it!

The only other you might try to to use door hangers and advertising to round up these possibilities.  

This is going to be my first round of LOI's, so I am sure I will learn a lot from the results.