Value adds that could bring up cashflow/value:- renovating units to bring rent up to 6-7k/month - ability to rent out parking space on the property as lot is large - trailers, parking, RVs etc - about 1-2k/month cashflow. - property had TDR trasnferable development rights and can be built 5 stories on it.

Instead they are "flex spaces" or "offices".2.

That ends up leaving a void that's filled by unprofessional, and in some cases outright criminal operations there in the PM space.

Highlight nearby conveniences and any neighborhood growth to attract interest.Focus on framing the size as a bonus that buyers get more space and value for their money compared to smaller homes.

Don't see any major red flags here, so long as you are comfortable in the low income space.

I agree we are quite active in the space. 

I took title to each in a separate series of my LLC, which is the same as per entity protection as having each in a separate LLC but with the organizational and accounting costs of having a single LLC.In the case of each I carried hazard and liability insurance for the INTERIOR of the condo while the HOA carried insurance for the “common” areas, including structural.This particular condo was on the second floor, with retail and office space directly below.  

A cabin that in theory would have cash flowed positive almost $1K/month had the kitchen drain go through the crawl space and dump out about 4' away from the house.

I've wondered about some sort of artists'/musicians' retreat space, but not sure about the numbers of that.I would love to hear your ideas!

I too am newer to the BiggerPockets space.