I had a freind who partnered with someone in a similar situation, and they were able to acquire their third property much quicker than going solo.There's also the BRRRR strategy...

@Jason Velie will know exactly what to do in this situation.

If you're looking for more active strategies like purchasing your own real estate let me know and I'm happy to send updated recommendations based on what your situation is and what your goals are :)

A straightforward way to estimate value is by looking at the price per square foot and using that to calculate your property's worth.In situations like this, it's worth spending a couple of hours yourself to get a solid understanding of the market.

Thanks. same situation for us but we don't go live with them until January 2023.

In a Hard money / lender situation, you are gonna be putting $50k into that deal, they lend you $200k and charge you 12% and 2 points.

Its a very poor situation for the original owner to be on the mortgage for years and years without the benefits of ownership and the control.  

I’d love to hear your thoughts, advice, or any experiences you’ve had with similar situations.

First - Have a discussion if the rental loss will immediately help your tax situation. 

I know and am prepared to do all the overhead work necessary to find a property that will qualify, but I just want to know if it is possible in my situation.