Scenario:A lender had limited communication with the borrower throughout the loan term, resulting in misunderstandings and lack of alignment on project goals and expectations.Mistake:Miscommunication led to issues that could have been addressed early on, contributing to project delays and difficulties in loan repayment.Lesson Learned:Maintain open and regular communication with borrowers.

Hello, just wondering if anybody would be willing to share their preferred websites to analyze markets for things such as yearly appreciation rates, rent appreciation, days on market, etc.

I've had great success this year by purchasing the company (LLC or Corporation) that holds the property rather than buying the property directly.

We fought with Quickbooks for years.

And, even if you could find an appraiser to do an evaluation, it's not clear how that would help you.As you state, the motel has been shut down for nearly three years, so there's no current financial data.But even if you had recent numbers, you're planning to operate it as a sober living facility, which I suspect is a very different business model.You need to find a comparable facility in or near your local market and develop your own customized financial analysis model based upon this particular property.Then, given your business objectives (cash flow and cash-on-cash return, I assume), you'll need to back into what purchase terms you'll need to achieve those objectives.Only then will you be able to determine whether these seller financing terms will work.As far as documentation to get started, a letter of intent (LOI) is commonly used but you might move straight to a purchase and sale agreement, particularly if no agent is involved.Whichever path you choose, just be certain to give yourself plenty of time to thoroughly perform your due-diligence.

Over a 2 year lease that's almost $15k which is pretty significant.

You can double your money in one year if your property appreciates only 5%. 

The tenants have been there over a year and I can show proof of payment if that makes a difference.

I have been managing my 5 cabins in Sevier County for 3 years now.  

"Don't buy old houses that are money pits, stick with stuff that's less than 40 years old."