The numbers I ran through the different tools I found on here came up with a similar Cap rate as to what you stated which didn't seem to bad for a less than 10 year old property in a nice area.

By studying real estate investments and using tools like this forum I feel like you can make smart decisions to continue building wealth and continue the tradition of passing on income producing assets to family.Best of luck to you!

I stumbled upon this forum a while ago, used it sparingly at first, but now I see what a great tool it is for anyone interested in real estate and investing.

It may have an almost negligible effect or in some unusual circumstance may have a devastating effect.

To hedge against recessionary effects an investor needs to look at products and services that are more necessary for society.

If you are not willing to visit the property and/or it is not cost effective to do so, then IMO you should be offering it for sale asap and trying to recover what you have into it.

So, as a GC, you not only can, but effectively MUST sub out the work for these trades.

Do you have the tools to address those needs?

Not saying they can't seek a full payoff, but the justification to do so will be harder, and I'd bet they won't, especially if the interest rate on the note is higher than the current rate.Later on, you can do a sub-2, effective when the mortgage is paid off.See your attorney, then call the bank back.....good luck!

This is how you "buy at the bottom" effectively.