The remaining $12,900 I would keep as reserve

I am usually never at home so i gotta type everything on the phone, otherwise i would more easily be able to get into more detail.now the amount we pay the manager is not very much at all, but that is ok because the manager gets a huge perk: they get to live in the manager's quarters which pretty much all motels in the united states have. the managers quarters is connected to the front office and consists of a 2 bedroom, 1 bathroom apartment with an adequate spacious kitchen and spacious living room. an older couple who is retired, about to collect social security checks possibly, and has a minimal and quiet social life is most desired for this position. they get to live rent-free and utilities-free, and i get a manager for minimal expense. its a win win situation and i often become good friends with them. most managers only stick around for 1-2 years, but some are willing to basically stay for decades even.the motel business is a seasonal business, but not an extreme one. typically around march-may, business slows down an observable amount, and after that it picks right back up to 90-100% occupancy on every night. several nights a year, we have to turn away guests at nighttime because we have no rooms left to sell.the budget motel is a peculiar business, but then again its really not. your average person might struggle to understand how this business requires a decent amount of hard work, yet is simultaneously one of the most laidback businesses you can get into.we remain super competitive, to the point where its not even competitive anymore for us. the reason why is because i have placed a 40 inch tv in every room, along with a full sized refrigerator and a real kitchenette. for $190 total per week and free housekeeping and wifi, who wouldnt want to stay there vs. renting at an apartment that requires all sorts of documentation and an application fee?

Prices are super high due to tourism and the lack of accommodation + you can't Airbnb (or short let) you place + you have to pay up to 25% taxes on the rents you perceive from your tenants if you're not Spanish resident.I would love to know what you both think - if there is any neighbourhoods that remains interesting, etc...Thanks for your feedback!

To quote the Bloomberg article above, "Additionally, the remaining “mega-elite” workers in top-tier cities like San Francisco will struggle to find adequate service labor -- teachers, police, firefighters, healthcare workers, not to mention restaurant and retail workers.

[O.C.G.A. 43-40-12(g)] However, even in this situation involving personally owned property, the inactive licensee remains subject to the provisions of the license law requiring disclosure of his or her licensed status in real estate sales contracts and leases; in advertising to sell, buy, exchange, rent, or lease property, and in handling any earnest money or security deposits.

We have an attractive property where we plan to fund 50 percent of the investment, and are looking to work with a private lender on the remaining 50 percent.

Total $175.Phases of operation: (Please, this is the part in which I want you to make recommendations and adjustments)Phase 1: - Lease renovated unit without including utilities- Post 30 day notices to all current tenants that utilities will be switched into their names (expect to lose 2 of 5 remaining tenants)- Begin exterior updates in preparation of attracting new tenants, as well as electrical to separate meters.- Separate meters ($3000)- Repair/paint soffits and facia boards ($250)- Remove covered parking, clear waste, and replace with designated parking spots via railroad ties ($500)- Repair broken fence ($150)- Add attractive, low maintenance landscaping to front of building.

My goals are as such: Purchase a multifamily property in Southern California, occupy one unit with my family and rent the remaining out.  

. - the exterior will largely remain the same and the interior will be gutted 100%.

Should I just remain patient and wait for the right place closer to my town?