Yeah makes sense - the thing is they will pay market price for a lot of these my friend.

I own a half dozen residential rentals, but with high prices lately decided to move into commercial real estate for the first time, which seems to be a much more depressed market at the moment.  

I have my own rental units too and have not wondered outside my market... yet!

Any excess amounts in the master are then assets or liabilities or capital of the master which are noted on its books. 

You don't need to have an agent (although that would be great, but it's not a good use of their time until you are pre-approved and ready) because there are Open Houses every weekend in every market.

Hey William,There are many ways to market your units.

Once I run out of money, I can partner with others with capital and I can manage the deals for a piece of equity and fees.

@Jordan DzubakHey Jordan, I live in Kitty Hawk and invest heavily in the OBX STR market and would be happy to get together to help in anyway that I can.

Amazingly, it is apparently nearly impossible to get decent comps for this so I'm not sure how to approach figuring out whether to outright sell it (and for what price), fix it up as a rental, or market it as a knockdown for the land. 

The journey from learning to taking action is so important, and it sounds like you're on the right path.If you're considering expanding your investment portfolio or connecting buyers with prime opportunities, I’d love to share some insights about the Indianapolis market.