Not easy to find a strong STR investment that cash flows down in our market with the low inventory and the number of competitive offers - Bravo!

All of my current rentals cost about the same to purchase ($215-265K), but cash flow is so different and current house prices are as well ($325-600K)...and the one I spent the most for and cash flows the most, is now the one worth the least (still worth more than I paid for it 3 years ago).

Mortgage rates declined to their lowest levels in over a year, a sample of more than a dozen industry professionals said they were quoting most borrowers in the high 5% to low 6% range on government loans and in the mid-6% range for conventional mortgages.

These properties are older and generally on the low $ end so there is not much room based on ARVs to replace entire system but wondering if leaving it in would scare away buyers.

Close to an up and coming area of town; new build with ultra low maintenance, desirable new finishes for renters How did you find this deal and how did you negotiate it?

They had a low credit score but beyond that, they were a solid applicant based on their application and references.

And that by itself could blow up your exchange.The cost for a QI like us to do your 1031 exchange is very small - especially considering al of the other issues you have going with this sale.The QI does have to be in place prior to the sale of the old property.  1.

PMs will of course come at cost but a good one is totally worth it.Let me know if I can help, good luck!

Most banks or lenders are looking for a property that has a LTV of 75% or lower after cash out and some requesting a DSCR of 1.00x once fully leased.If you was looking for $100,000 you would want to at least get the property to be appraised at $145,000 to get the most competitive pricing and enough cash out for yourself and closing costs.  

Since I was brokering the private money loan, I couldn't waive the late fee (which my lender still wanted) and the borrower was upset because ENS wouldn't eat the cost, which was a systems error on their part.