It can be worth it to spend a little bit more on those items to limit recurring replacement costs.I hope that’s a helpful starting point.

If the property can be sold with conventional financing I am on the other side of things (and the minority) they seller financing is a bad idea due to the risk and the returns especially when considering tax ramifications The idea behind it would be that I sell using seller financing to continue to cash flow each month at a high effective rate with the amortization schedule and put a balloon after 7 years so that I can collect the full amount once the effective rate in the amortization schedule starts to balance out and not be so lucrative in my favor.I’d love to hear more of your opinion on that idea! 

If you do not own a primary I would suggest buying a primary and getting a 2-4 unit to start off with a multi door cash flow.If you buy a primary you do not need a PML you can get 100% financing under a few programs or a DPA.

But I would start your own meetup group!

Where do I start?

Starting on day one with the tenant being able to "talk you into doing XYZ" is not a good place to start.

Especially if the hotels start asking to pay the lower taxes.

Do you recommend that I start the process when the current tenant's lease ends, or when the tenant is still in the property?

When I first started buying real estate, my first rate was over 13%, so the rates right now are still reasonable in my mind.Again, I am not saying my strategy is the best.

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