Thus I will cash out refi after I renovate the bathrooms. 

Cash. pooled money from investors.

There is 167k left on an 11 year loan at 2.8%.The property technically has a negative cash flow of $200 a month.They have just retired and do not want to deal with the upkeep or a rental.

Using rental comp data and the MLS data we analyze based on cash flow potential.

Should we sell the Red Lodge house and pay cash for another rental, albeit in a lesser market? 

Also, the cash flow of the paying notes will provide enough cushion to allow me to survive almost any crash.6 - Finally, I have about 10% of my portfolio allocated for investment in high(er) risk property investments - and while there’s no telling how I’ll do on this, in the past I have been able to purchase some volatile assets at very low prices and end up doing pretty well.  

Purchase price: $675,000 Cash invested: $230,000Purchased for $675,000 in September 2022.

And even then, those really experienced folks are able to raise capital by hiring intermediaries (aka brokers) who are specialists at putting together the capital stack (equity/cash from the LP/investor + debt/lender + co-invest from the GP/developer). 

Hey @Eddie Hincewicz, just an FYI, I did an extensive survey of a bunch of lenders and none of them would lend more on an operating STR vs a similar home.That does include if they have a permit.So anyone looking to buy, they would have to come up with the extra cash if the owner wants to charge more than the comps support.

Purchase price: $10,000,000 Cash invested: $100,000 Contributors: Jered Sturm Invested in 2 syndications for multifamily in Cincinnati Ohio as a passive investor.