I'm telling my commercial clients to stay well away from downtown if they're going for large residential because there's a good chance everything there will continue to reduce.

Property is exempt from STR permitting because the jurisdiction considers it to be a commercial lodging establishment.We've been pursuing an SBA 504 loan for it, which was going well until we discovered that the sellers have operated it only part-time the last 12 years -- intentionally blocking 60% of available room-nights because they just weren't up for running it full time in their retirement. 

I'm passionate about learning the ins and outs of the industry, and I'm eager to connect with others who share a similar drive.Whether it's sharing experiences, seeking advice, or exploring new opportunities, I'm here to grow and contribute to this vibrant community.

My company offers full-service property management as well as a monthly subscription model.

A well written management contract should clearly spell out what is expected of both the PMC and the owner, to PROTECT both and avoid misunderstandings.

That's how I'm seeing it as well but you could always check with a local RE attorney to double check

I will definitely reach out if I have questions and look forward to contributing to this community as well.

However, it's wise to explore other markets as well, such as the Sunbelt region. which has seen strong population and job growth.Leverage vs.

If the son is indeed planning to live there, he will need to apply as well.

For example:  Will these be solely commercial (retail, office, etc) or will you be looking at residential multi-family as well?