I'm a big advocate of that market and still believe it offers the best risk-adjusted returns today.Lots of folks are still writing off Detroit but more and more are waking up to the opportunity there.

In an era marked by rapid changes in the commercial real estate (CRE) market, investors and property managers are increasingly seeking ways to future-proof their investments.

Appraisers aren’t keen to train their future competition - they gain nothing out of it. 

I’ve done dozens of 1031 exchanges over my 46 year career in the RE industry - both for myself and for my investor clients.The main advise I would give is as follows:Be realistic about your buy options and the market value of these options.

1. Is this worth to invest to STR in Red River gorge. It is beautiful out there but are people able to cash flow their existing STR.  or how much is subsidized by STR? any guidance will be helpful 2. I am planning to ...

Once that amount is adjusted you'll have a loan payment updated based off of the rate and terms of the loan. 2) In you long-term expense estimates I don't see any assumptions for property management (7-10%), repairs/maintenance (7-10%), and vacancy (5%) so I would re-run your estimates based off of new expenses.

This is only my 2nd house that I own (owner-occupied RE).

You are asking here for someone to spend the time to write you a roadmap, but that's not a great use of their time.

You risk making a headache for yourself if you ever want to sell this house in the future, if an upset tenant wants to report you to the city, or any number of other scenarios.

If you're looking to condo convert in the future, doing an Ellis Act now will get in the way of that.