Are you suggesting that as an alternative to being a landlord?

While many defend their favorite way of calculating alternates, cap rate traditionally includes operating expenses only; not capital expenses.

Some alternative way to finance this so we can do the repairs ourselves?

Even a full price offer on a short sale may not go through.An alternate strategy is to use the listing agent.

Compare that to alternative investments for that cash and see if you're happy.

Doug,Definitely understand your aversion to higher capital gains and looking for alternatives before the higher rates kick in.

I haven't found anyone willing to go over 4 notes. keep in mind, I was just told by a commercial broker that he 95% sure that had a client that would do a wrap into a commercial loan, only after spending countless hours gather paperwork, for him to come back and say he couldn't find anyone to do it.

Your alternative would be an unconventional situation, i.e, a home purchase using owner financing, or a wrap around to an existing mortgage.

Countless hours of debates at school board meetings have got us nowhere.As far as I can see, the number one problem is the lack of engagement by the parents, both with their children and with the schools.

Another but similar alternative would be to lend private money in a first lein position at low LTVs on property you wouldn't mind owning.