A 1031 exchange will allow you to sell your building and use the proceeds to invest in a small multi family and/or medium term rentals.

Seller was not willing to extend contract or accept creative financing options.

Good luck with getting this tenant to accept higher rent, because you've trained your tenant to think they have a "mortgage payment" that never goes up!

Investment Info:

Single-family residence buy & hold investment in Oceanville.

Purchase price: $355,500

Cash invested: $75,000

Rental Property near community college

What made you interes...

You can also seek projects through licensed Portals that are using Title III and can accept money from non-accredited investors. 

They were perfectly acceptable 20 years ago, but now many areas are limited to one guest per calendar month. 

I they accepted an offer of $118K from my brother but since he couldn't get the loan, we're starting over.

Setting up direct bookings is a great way to save on fees, but you’re right—it requires extra effort to ensure everything runs smoothly.For vetting guests, start by asking a few questions when they inquire, like the purpose of their stay, how many people will be there, and if they’ve stayed in short-term rentals before.

The decisions and actions you make today can lead to incredible long-term benefits, so it's great that you're starting now.A good starting point is connecting with a lender that aligns with your goals.

Quote from @John Brown: Quote from @Katie Miller: Are you saying you would long-term rent it from your friend and then run it as a short-term rental?