Hi Jordan, I would encourage exploring markets like Merced as well but it depends on your strategy.

Cool opportunity you have their the most important dynamic to your deal is the NOIif you have a manager it does show a professional approach to managing the asset but that does not mean value will be more because of it.So to show more value you would need to add value to property tenants by improving the property in such a way that it increases the rental revenue to increase the value also depending on how you structure the deal upfront and the financing can play a key part in getting this deal the max value

It really depends on how soon you are looking to close and what you are looking for in a lender.

@James MeyerJim like everything in personal finance it depends can you tell us some more case details and what you are trying to accomplish? 

I think if you can get a good team, hopefully a good handyman, plumber, know of a good electrician and a good HVAC or furnace guy depending on where you live, and follow through with late fees and posting notices when someone goes past the late fee (you have to train your tenants or they will always take advantage of you) then you will be fine.

If they ask to attempt to collect on past due you aren't likely going to get far with the tenants and if they are still overseeing that they may lax on it depending on what they are doing with their 2 months.)  

Some investors might purchase in hopes of selling it to a builder later.As for your question on price, it absolutely depends on the area.  

A lot of people don't understand that and don't understand how to do these pieces - especially if they're coming from the STR space where they've been dependent on Airbnb and other OTAs - so they get frustrated with Furnished Finder, but the platform just isn't designed for that. 

As you can see there are several different solutions depending on the scenario. 

Quote from @William Dorrough: yes its a 260 unit complex in saratoga ny but the property is 2 phases phase one is almost ready for perm  William,You may have already secured this funding, but there are a number of options for you here depending on location.