Ive come across a property in my city that is currently mixed use ( one office and 3 luxury apartments) listed at 399,900.

We have a luxury town home we are currently living in that we would like to convert to a rental, and are under contract for a SFH with a lovely studio apartment that we plan to make a 1 bedroom upon move in.

Not sure if we will have that luxury at this point in time though since it's kind of last minute.

This is not a luxury condo complex by any means.

Mike if you have any reccomendations the scope of work I'm looking at is 1 home a few small upgrades, and another total gut redesign and luxury rebuild.

Good Afternoon @Tanner Wilbeck,I am a local Realtor with experience in fix and flips, long term positions, as well as luxury residential real estate, and  full developments.

@Johnna Lodge It doesn't look as bad on a 10 year amortization schedule vs @Chris Baber 30 year. $152000 at 7% 10 year = $1974.

With the challenge of having a low income, I intend to pursue my goal of converting foreclosed properties into unique lodging and events places within the Philippines.

If the short-term rental dwelling unit is not the primary residence of the permittee, no permittee shall, for compensation, provide lodging for more than an aggregate of 90 days in any calendar year. 

How is the luxury sector?