A smart tenant will avoid a property setup like this.

I'd recommend looking into the "Multifamily DSCR Loan" product for anything up to 10 units - not well known yet, but has a lot of advantages in the MF nichehttps://www.biggerpockets.com/...

I would like to solicit feedback from both consumers and the pros on the feasibiltiy of buying a nice house near the beach near retail (I'm thinking NJ), then flipping it as quarter-share fractional interests at a premium.

Hi Stetson,I own a STR in Flathead County that performs exceptionally well.  

The South and Midwest are pretty well known in that regard.

I’ve done rehab before and know how to cut costs there but have never built from the ground up.

I have remodeled the unit completely prior to putting it to rent, including addressing pre-movein readiness checklist I was given by RL after they walked through the unit (small list of punch items like toilet paper holder, cleaning unit, door stopper etc.).

Most enticing is it is located on a very well established street with a wall score of 92 - lots of restaurants, bars, shops and a park nearby.

The neighbors also mentioned that "he is well known around the neighborhood for sleeping in vacant homes and has already burned down 3 of them." 

You and I have talked before--I hope you have been well.