The plot is around 26000 sf, beachfront, great tourist locationThe build quality is high, and it survived the tsunami of 2004 intactThe place is fully staffed with a manager who's been there for 19 years, with no intention of leavingThe place is one of the few in the area that holds groups (the whole complex is rented out to groups of 12-23)It is currently earning 100k eur per annum with only 50% occupancy (the owner is older and does minimum to market - old website, airbnb, booking.com, homeaway, tripadvisor)The average occupancy of the area is 74% so there is a lot of room for revenue growthThe rates haven't been raised for 3 years and it is due for a 5% rental increaseThe reviews are stellar on all sites, with many repeat clientsThe venue is ideal for weddings, reunions, parties, bdays, etc, and the staff handle everything, including an on site chefWhen you stay there it's like having your own resort on the beach to yourselfOwner will act as consultant for up to 1 year for freeSo, he wants to sell to my husband and I, as his manager and he really like us and know we would keep the staff and concept the same.

The average house is probably 350K and would rent for 1400 or 1500Is there a need for this type of property in the community?

Every market will have investors who are willing to pay less than the market cap and investors who will only buy if it's higher than market, but the average investor in that market is going to pay that cap rate.Large national brokerages track sales and cap rates from those sales and can be a good source for generally reliable market rates, but the reality is that there is no one source with the exact (agreed upon) cap rate.It's very similar to residential in that it's not an exact science.

These were bought cheap enough that I could do the math of the purchase, rehab and carrying cost and know that I was in a good position. they have stayed rented 100% of the time and on average worth double what I invest in them.On to today!

I was able to obtain data on 10 comparable units over 1000 sq ft.My HOA fee: $979My HOA fee per 1% of common expenses / ownership: $421.22Average HOA per 1% common expenses / ownership: $344.02Lowest HOA per 1% in sample: $216.832 out of the 9 other units were in line with my fees.If my fee was based on the average of these units it would be $799, a significant monthly savings.

I went to Redfin, Zillow and Realtor.com, and averaged the FMV out to be $322,000 for Jan 2018.

The models can only assume that the properties are in average condition for the area.

I know this probably varies state to state (I’m in Illinois by the way), but is there an average?

As I said before we were in the market for a primary residence but in my eyes this was also a flip so my strategy was a little bit different than your average fix and flip.

What is the current average rate for seller financing with 15-20% down payment?