This won't work, however, for the vast majority of oceanfront resorts here along the Grand Strand which get classified by lenders as 'condotels'. 

I am starting to research the idea of buying a vacation rental property on Grand Bahama. 

Until rates start to come back down, deals that would have been a grand slam 18 months ago are lucky to be a base hit. 

You may find that with these prices, it may be hard to find a grand slam but you can definitely beat rent if you do it right and build equity.

At a $900k price point, that is a 3.3% premium that you are paying which in the grand scheme of things is minimal considering your returns.I have investors making offers at 10% over list and willing to bridge appraisal gaps entirely to be able to make a modest cash on cash return while paying 20-25% down.I don't have a ton of info, but it seems like this is a home run.

I love Grand Rapids because the economy is great, there are so many awesome projects going on in the city, tons of new jobs added all the time.

If you've got 8 grand in cash kicking around that you don't mind tying up for a bit AND you're sure this mall is a definite go, then why not.

If they have been a great tenant, give them the benefit of the doubt and don't nickel and dime them.A grand for turnover costs when there is no chaos seems way too high to me. 

One of my grand fathers lived to 60 and the other one is still alive and happy at 98.

I bought my second long-distance sfr investment property in Grand Rapids, MI (Creston Heights!)