In 2023, we sold it for $245,000, achieving a strong return and leveraging the experience to fuel future projects.

The customer feature also links to the project feature if you want to make use of that eventually.This structure works great for our clients and their tax pros.

So developers are building multifamily on these parking areas.Since these areas aren't located on top of residential areas, the zoning approval process has a lot less friction and resistance from NIMBYs.Here's an example in Rochester where an old Sears was turned into apartments for seniors.https://www.passero.com/projects/skyview-park-senior-housing...For multifamily developers, this could be an opportunity for building and partner with the mall owners.

Since leveraging this tax strategy could save you significantly on taxes if you do qualify you might want to seek personalized advice, that's tough to get in a public forum, to avoid missing out or getting audited and failing audit. ...

@Sonja Revells , after reviewing the agreement you uploaded, I realized it could be a bit tough to fight for your EMD due to these sketchy clauses.

These will eat away at any "cashflow" you may have.2.Tenant Issues: Properties in certain areas may face challenges with tenant behavior, making it tough to maintain the house long-term.

You may even find one or two who won't mind if you shadow a project they currently have going. 

BUT, if one could solve some tough problems….Look, I hear what posters are saying - and it might NOT be a fit for real estate.  

Tough for anyone to beat that in residential RE (<5 units).  

DSCR loans are usually what I recommend to ensure approval as your qualification is not based on your income but the projected rental income of the property.