I would love some honest feedback to see if I am way off asking over a million for this property. 3 years since we started, every year gets better and 2024 was the first year with all units opened. $185k revenue. $100k expenses.

If you don't believe it, go to the BP calculator and run a million dollar property with 10k rent and 3% appreciation and see what happens after 30 years.

I truly appreciate it.I want to reword my thoughts:I now know I can't just raise millions of dollars because I want to.

It sold for $1.2 million when he passed in 2015.

32k or even 42k on a half million dollar house doesn't sound all that good.What's your projected cash flow after all your expenses including a likely higher mortgage payment than the current owners?

DT Long Beach: beachy urban setting with smaller units 1bdr; close to tourist attractions, and thinking I can STR one unit; BUT high crime rate (90 percentile); properties are older but more attractiveIs it better to go into a slightly better neighborhood in boring Riverside or a more crime ridden area of cool kid Long Beach?

Most professionals will recommend a separate LLC for every $1 million in assets but I don't think that's necessary.

I’m near the i10 that seems to attract people since that’s the only freeway here. 

It all comes down to picking the right areas that work well with your personality and attract the type of clientele you feel comfortable working with. 

We have found that the Midwest offers an attractive price per door that cannot be matched in any other region.