They're also avoiding short term rental fees, temporary storage fees.Creative finance: they have too much equity for a subject-to deal; but I'm wondering if I could do a wraparound mortgage of 300k at 4.51% (payment would be around $1785/mo; market rent is around $2300/mo) and maybe offer like $40k cash?

. - COCR isn't as applicable with househacking because of my first bullet point & because it doesn't factor in that you're also saving on your personal cost of living. many investors shoot for 10%+ COCR with a traditional rental property that they're not househacking.

The driving factor is that there are 20-30 percent more rentals on the market than there were a couple of years ago - particularly in the outlying areas - while visitors to the GSMNP has only slightly increased in 2023 over 2022.  

My numbers may not be spot on, but assuming:Sale price of $469k (6% agent fees), basis of $264k, Total deprecation taken $24,600 (adjusted basis $239.4k).

In the interim, be sure to hit them for every late fee, etc., allowed by the lease. 

I wasn't expecting a fee to join.  1500.00.

Here's what auction.com said about the transaction details: "Buyer will not be charged a Buyer's Premium for this property.If you are the Winning Bidder, an Earnest Money Deposit of 5% of the total purchase price or $2,500 (whichever is greater) is required.Buyer may receive a Special Warranty Deed or equivalent if Buyer is able to purchase title insurance without delaying the closing (title fees typically cost between $500 and $1500 and are based on the purchase price of the property).

Definitely looking at the extra land as gravy, would be great if we could get something for it but I don't want to factor that in to the valuation.

I was told by the Trustee, I could finance the condo instead of buying it with all cash.However, since this is auction property and doesn't allow someone to do inspection from inside most of the lender are suggesting that get a hard money loan instead of conventional investment loan.hard money loans are expensive (12% to 13% + origination fees).Does anyone has done this before with conventional investment loan where you don't do the inside appraisal.or any recommendations for lender who can help achieve this?

The only concern for me is that none of these would cash flow positively after factoring in all the items (vacancies, cap-ex, repair, etc.).