We've also seen them extend the "First Look" period.

There's nothing wrong with doing 'bargain' deals with over extended people.

Get it around 4.5 or 5% interest and you'll cut that interest payment in half or better and you can also extend the terms of the principle payback (depends how "leveraged" you want to be and for how long).

It is great to hear that Doug is willing to come on BP and share his story/experience with us.I hope BP community will be gracious enough to extend the same respect and hospitality they would show any other BP member on the site :)

I have discovered that 4 ft were added on to the original structure to extend the kitchen in order to make room for a washer and dryer (washer and dryers inside the kitchen were all the rave at one point in time...).

Do you plan to hold these properties for an extended period of time or sell them off?

I hear that people can do better with smaller spreads and shorter duration projects, but it seems to be a lot more work to me and it doesn’t really fit my style of investing.

The concern I would have would be the effect on the duration of vacancies.

If the lessor chooses to enforce their rights and not extend the lease, a leasehold property has negative value at the end of the lease because of the costs of removing the improvements.

I've been able to get over twice the normal rental rate and still come out profitably despite having to buy furniture and pay utilities because I'm cheaper than area extended stay hotels.