Here are the projections for 2024 to give an idea of expected returns:2024 IncomeLong-term Income$8,400Gross STR Income$45,500 (based on AirDNA projections)Additional STR Income$5,915 (mostly cleaning fees)Total Projected Income$59,8152024 ExpensesSTR Expenses$16,453 (32% ratio)Mortgage$34,476Insurance$707CapEx$3,600Taxes$2,729Total Expenses$57,965Projected Cash Flow$1,850CoC Return2.79%2024 Additional ReturnsPrincipal Paydown$2,930Equity Appreciation$16,200Mortgage Interest Deduction$7,571Total$26,701Total Projected Returns$28,551Projected Return on Investment43.1%Projected Return on Equity21.4%The CoC numbers are not impressive, and the property only cash flows as an STR, which carries some risk.

Its not a sale, no money is being exchanged.Can this be done without paying the Florida tax of .70 per $100?

I think most of the work would be purely for the purpose of being able to increase and maximize the rent per sq ft.

Hi Tempu,Some other things to consider other than rate are closing fees, loan term and pre-payment penalty.

I don't think it will be an issue to go there one more time for 10 minutes.

In NJ I believe they will do up to 30 units total (max of 4 units per bldg). 

Even if you owe tax that you cannot pay today, you should still file to avoid a 5% penalty per month for failure to file.

A few hundred a month per unit, if actually achieved which is far from guaranteed, is not going to do it.  

There's closing costs, appraisal fee, and points to consider. 

So don't pay their assignment fee through them, they'll get paid once it closes.