I know if there is no agent involved then offerpad charges 4% to 5% in place of the commissions that the agents would normally split in a traditional transaction. 

+1...fish through BP, bet you'll be surprised at how many people from your market post here.

The economy is to blame but local politics have played a role in the demise of Arecibo as well.I'm not sure how long your most recent visit was or when you are planning your next trip, but I do hope you get a chance to view some of the other " non tourist" areas as you may be pleasantly surprised at the resurgence (albeit gradual) of some of the surrounding towns.I've been a resident here now for the past 4 years and I currently work as  a lender at a local mortgage bank and also am now getting more involved with RE investing here.

Here to help if you have questions as I've been involved in an extremely large volume of short sales and foreclosure avoidance scenarios.

There is a certain health ratio for restaurants after food and labor costs.You need to figure out what you want the ground rent to be based on all the costs involved and how long you want to hold the property.Generally the longer the primary ground lease the more value it can have for resale unless the tenant want given a sweet heart deal with little to no rental increases.What tenants often want is FLEXIBILITY in termination clauses and short primary terms with options.

Hi Rhoda  So depending on your income and credit score I would say best bet to get a FHA is using a mortgage broker in your area.

If you are in-line with comps (which I think you will be), then you have to take a hard decision - do you bet on making minimal or negative cash flow and get potential juicy capital appreciation OR find another deal. 

However, I decided the best way to start was just jump in and get involved!

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Just jump in and get involved!