Each unit features 2 bedrooms and 1 bathroom, providing a total of 4 bedrooms and 2 bathrooms across 1,684 sq. ft. of heated living space.Key Features & Upgrades:New Roof for long-term durabilityFresh Exterior & Interior Paint for a modern and inviting lookNew Interior & Exterior Doors with updated locksets for added securityLuxury Vinyl Plank (LVP) Flooring throughout, combining style and durabilityFully Renovated Kitchens featuring brand-new cabinetry and quartz countertopsUpdated Bathrooms with new tiled tub surrounds, vanities, and toilet seatsNew Light Fixtures & Mini Blinds installed throughout the propertyComplete HVAC System Replacement for Unit 686 & New Condenser & A-coil for Unit 688Plumbing Upgrades including new water heaters, updated faucets, leak detection, and a cleanout drain installationSecurity & Hardware Updates with rekeyed locks, new smoke alarm batteries, door hardware, and cabinet adjustmentsNew Landscaping to enhance curb appealThis turnkey property is ideal for homeowners or investors seeking a low-maintenance, move-in-ready duplex in a prime Memphis location.

Lenders in this space underwrite to a 1.0 DSCR based on Long Term Rents for a turnkey coliving property which has been 30% down on the last 5/6 deals or so I've done with clients over the past two months.Thus, the lenders underwriting criteria are a gut check to the purchase price which is a net positive in my opinion.In my experience, very few coliving deals, turnkey or conversion, would get done if they we're underwritten to cashflow as a long term rental as well.That said!

If long-term rentals don’t cash flow, short-term or mid-term rentals (Airbnb, traveling nurses, corporate stays) might work better.

Hey @John FriendasI have purchased 4 of my Co-Living (rent by room) properties with DSCR, 1 of them within the last few months.Not that I necessarily recommend this, but there are short-term-rental DSCR products.

For a shopping center, banks would require center to be atleast 50% pre-leased before they give you construction loan.

Sign an Assignment of Contract:      Check the terms of the contract.      

However, since we needed a small loan to complete the purchase, we included a condition for financing approval—which is fairly standard for vacant land deals, especially since lenders require an appraisal before funding.Where Things Are Getting MessyAt first, the seller pushed for an unrealistically short deadline for financing approval.

my primary investment goal is long term appreciation and wealth accumulation.Looking forward to connecting.Best,Nish  

Our Smokies 1 bedroom beats some of our Smokies 2 bedrooms in terms of revenue some months out of the year.

Even after one year, that property may provide thousands of dollars worth of appreciation, you will pay down your loan and build some equity, and you can depreciate the asset.