The way I've valued multifamily properties is to calculate the Net Operating Income (Gross Income - Expenses) and then divide by desired cap rate.  

@Tricia O'BrienI spoke with Chrissy from Moxie today, she said all the right things, 300 properties under management, team of 4, online payments, low fee for placing residents and reasonable monthly fee.

So, the first question they usually ask a PMC is about fees - instead of asking about services and HOW those services are executed.EXAMPLE: PMC states they will handle tenant screening – what does that specifically mean?

but the one from the wholesaler might have a pretty hefty wholesale fee... which defeats the purpose.

Is the occupancy rate truly there and what are you going to do that is different that most airbnb hosts in the area? 

True, the banks DO have trillions of dollars lying around but they aren't lending it because they can make risk free money by buying treasuries from the Fed at lower interest rates.

I would also avoid the 30 night minimum jurisdictions completely because you can be close by and have STR friendly jurisdictions that will allow you a higher rate and more flexibility.I will send you a DM, best of luck!

Once in those groups, I am sure there are "boots on the ground" people that will go out and take pictures etc for a fee. 

I'm leaning towards selling before I need to dump a bunch of money into the property, but I'm second guessing myself because I'm sitting at a 3.25% interest rate and cash flowing close to $1,000/month before reserves. 

The average daily rate (ADR) reached $199.65, a 5.5% increase from Q4 2023, while revenue per available room (RevPAR) grew by 5.6% to $147.84.