I sell my properties owner finance and has tremendous benefits to the seller I have a call scheduled with him tomorrow and that seems like that route I am going to be trying to shoot for.

If you go the multifamily route, I would recommend doing a cost segregation study within the first 2 years to accelerate depreciation, save on taxes and increase cash flow so you can attain your next property quicker.I am bullish on Tampa because of Bill Gates multi billion dollar investment into downtown Water Street and the GasWorxx projects, both are transforming large swaths of the downtown and the urban core.Best of luck!

If you could be part of a team, I would also recommend going that route as well.

Otherwise, finding people to manage that will really value your property is next best route.

So it probably doesn’t make sense to refinance the conventional route on a 5-6% interest rate and pay closing costs and reset your equity, which equals less cash flow. 

Lets tackle this with data and you can logically assess what the best route is..for you! 

If you are going to go that route you need an experienced team. 

A lot of people who did regret it and wish they took the turnkey route or atleast not as much renovation. 

I don't see many of these in Amarillo....but not there very often and don't pay that close attention.If it is, maybe you could really specialize...and as someone else said if you have truck parking....rent to truckers for the night....or if you are close to Route 66 rent to bike riders passing thru....or focus on any of the other specialties in your area....like including spray paint for the Cadillac Ranch, or balloons if they want to visit the Helium museum...or cool things like that. 

I think that route should be taken if it's clear the tenant has "abandoned" those possessions.