The SE is where the Cape was first developed so that's where you'll find the older stock of homes.

Also, I don't necessarily subscribe to this, but I do know a lot of older MFR investors just keep their rents lower than everyone else and do minimal improvements after they retire.

Without a mortgage I could comfortably live on 1500/month and that includes having money for an annual sell-off vacation in the off-season to costa rica...Anyway, at 8% return I could RETIRE permanently on a little over 300k...However, that is in London, ON with a population below 500, 000 people (I think north of 400k?).

hello to all of BP I'm glad to be apart of such an awesome community, my question for the day is.. in whole selling property what are the best ways to locate motivated sellers . 

So I ask you, friends: if you were looking to get started and had an opportunity to sit down with a seasoned vet who has spent decades in this industry, what questions would you ask?

I would be tempted to keep it since you owe so little relative to the prices here, though I am curious to see what more seasoned investors say.

Hey there seasoned commercial investors.

This is a 3 season property with the intention of AirBNB , VRBO, or weekly rentals.What are you thoughts?

The buildings systems (HVAC, Elevator, Sprinkler, Electrical) are the main concerns for older properties.

I like the strategy of the long term tenant during the slow season...if that is the best you can get for the area and time of year.If you are able to generate the $130 per night during the peak season - that would bring in $12,675 at a 65% occupancy rate ($130x98) (there are approximately 150 high season nights) but you are only bringing in just over $8600.So it sounds to me like you need to focus on your short term rental occupancy rate and maybe make a rate adjustment.