If comps for a 3 unit property are in the 950k range, then that is what it will come in at.The revenue from the STR will have no bearing on the value of the property itself.People argue about it from time to time, but I spoke with 10 different lenders, banks, credit unions, private lenders, etc etc and they all said the same thing.

Asking price was 1 million but was by far the best deal we had found in the same price range.

Do you have a price range that you'd be targeting for your first property?

I'm looking for neighborhood recommendations in the Sarasota area for a short/mid-term single family or townhome investment in the 400k-500k range.

For this first property, looking for something in the $100k-200k range.

Costs vary but can range from $1,000 – $3,000 per unit.Water/Sewer: This is more complex and may require approval from your local water authority.

We have many efficincies under management with a ~10% vacancy rate with prices ranging from 485-625 depending on location property quality and amenities.

I’m planning to do this for 3 multifamily properties all located in MA, each ranging from 2 to 4 units.

Do you have a price range you're targeting? 

Our investment to value (ITV) in the notes we purchase is usually in the 50-60% range, a significant amount of equity to protect our position and our private capital position.