You probably don't want to re-zone because of the time and money involved especially if you plan to rebuild apartments.A parking spot may only be 113 to 180 SF depending on layout compact or standard but you also need circulation unless you plan to do a valet lot.

HI  all I live in Ontario so everythign I do is out of state infact out of country..doing your homework is essintial and laning in a spot that the numbers work... once you have a spot gettign a great team on the grond  is essintial..

I've run some numbers on several market rate deals, and below is roughly what I've seen:Purchase price - 700KCap rate = 8%NOI = 56KI'd need a loan and property management.Property management ~7800/yearLoan (5%, 20 year amort, 20% down) = 44.3K/yearCash flow = 56,000-7800-44,300 = $3,900/yearThis assumes NO capital expenses and assumes the current owner's maintenance numbers are spot on.  

It did happen to me (stabbing- wife killed husband), and the previous post was spot on.  

Robert is spot on.

I think it's pretty accurate because when I put areas in I know it's pretty spot on.

My last short-term property manager used her personal cell phone but she didn't pay her bill and then left the company and left me in a bad spot.

So, if you can find a way to either pay it down $34k or we often look at bridging the gap with a 2nd mortgage, you'll be in a better spot and get the best rates out there.Lastly, you will need to take the property out of the LLC, but because you're the sole member this is something we can do alongside the refinance and should be easy. 

The individual drain tiles were in really good shape, but two of them were disconnected, because 60 years ago they had been supported by some leftover construction lumber over a soft spot (instead of crushed stone, as supposed to).

The property has no mortgage and is paid in full.My market in sunny South Florida but I often travel up to the Charlotte area.