The best thing this community can do is encourage your son to run far away from a subject to deal.

I've run into some issues where clients get a little anxious over a valuation that came in low or a condition comes up that is fairly minor. 

We need them to run this country! 

These items have me slightly concerned and weighs on my decision, making me want to "take the money and run".Question: Would you sell, abandoning a 3.125% interest rate, $1000/mo cashflow (which I believe would be roughly halved if a loan were taken for the capital improvements to the larger property), to lock in the equity gains tax-free made since 2020?

Additionally, I would suggest you run some financial calculations such as cash on cash return as well as any appreciation from the asset if/when you sell.

Out of pocket, it is at least $1000 a year but I think it is worth it in the long run.

Todd Worrich - Jason Glast group w/ Phyllis Browning  Sounds like you hit a home run!!!!!

It's a competitive market and most of the people that get in trouble here are ones that buy blindly without actually figuring out the numbers, etc.You'd be surprised the number of times I get asked after month one if their electric bill of $xxx or whatever is normal, and the thought running through my head is "how did you not  check things like that before you committed half a million dollars to something?"

Run numbers and if they work do it!

Recently I’ve been living next to an illegal and poorly run STR operation and I can now better empathize with folks who strongly oppose them.