Instead give the tenant choices.

At renewal, I must make my choice (vacate, lease, or M2M) 60 days before my current lease ends. 

If I were you and had those goals, I'd take your $300k, lever up a bit, and buy some B-C grade rentals or a larger complex in any number of Midwestern or rust-belt markets (Indianapolis, Cincinnati, Pittsburgh, or Detroit come to mind as off-the-cuff options).I think you'll find that 12% CoC is eminently reasonable as a goal and won't require you to go off the rails with something super risky.

You could delay the closing but maybe not the best choice.

Also if you have the choice to use a conventional mortgage I would still continue using them unless there is an unusual situation with the property and you are unable to obtain one.

I'd like to add that as you build your buyers list, you'll be able to make larger fees.

My broker brought me a deal for a Tri-Plex , I’m wondering if you all think it’s worth pursuing.Here’s the breakdown.Purchase = 200kRehab = 20k2 units rent would bring in $750ea1 larger unit would bring in $1000Not a lot of property maintenance in terms of landscape.Estimate on Water, trash would be $200Estimating 5% vacancy costI would not be using a property management company to start.The ARV would be apt 300k.Thoughts on this deal?

The Monthly HOA Fee typically eats up much of the Cash Flow making Town Homes / Condos an unprofitable choice for Investment RE.

One of my big vendors in Philly and Baltimore which is wholesaling heaven tells me he uses them because there is a lack of trust among sellers and they want to deal with those in their neighborhood.. so when i see a hud and this so nice neighbor who they trust is ripping 20k out of a 30k deal and leaving the seller with 10K  then bragging about it on BP.. thats what gets me going.. but to be honest not sure many agents will take 30k listings.. so as i state it makes it wide open for this activity.Here in Oregon the larger wholesalers actually buy the inventory and or are agents and licensed developers..

They were so thrilled with the bathroom-for-every-bedroom in the winners' house.Anyway, it may depend a lot on whether you expect to mostly host larger groups or smaller groups.