Then demo it, and add a shed on concrete piles with wood floor framing cost effective and adds new storage to the property.Glad the rest of the house passed.Best wishes.

It depends also in the type of syndication you want to invest in.There are STR, multifamily, storage units, commercial, mortgage note syndications.

@Jorge YdlibiOur background is self storage but I will apply what we have learned.1. 

I now have a storage unit with some excess furniture in it for my next STR purchase.

Excess storage

I was always interested in Self Storage, however, I would much rather be closer to that so I can run it more efficiently. 

Our property is 2 acres and we're hoping to acquire the adjacent 3 acres that has 4 structures (3 previously used as farm worker houses and 1 as a refrigerated flower storage building).

Everything from SFR to STR to Self-Storage sound exciting and potentially lucrative to me, and fit my personality well. 

My credit is excellent and I'm planning in putting about 80k equity in.The dealLocation: Town Center of middle-class suburban neighborhood 5,750 sq foot retail (3350 1st Floor; 2400 2nd Floor)Assessed 265kPurchase Price 200k (Loan for 300k)Current SituationFirst Floor (3350 sq ft)Unit 1-3: 2150 sq ft (Unleased - 1 definite tenant, 1 possible tenant lined up @ $13/sq ft)Unit 4: 1200 sq ft (Leased @ $13/sq ft)Second Floor (2400 sq ft)Units 1-3: 1100 sq ft Leased @ $6/sq ft (storage)Units 4-7: 1300 sq ft (Unleased)Basement (3350 sq ft) Unfinished ConcreteThe assessment revealed some minor issues and a few not so minor issues.Foundation - split between current owner and myself estimated @ 8k eachSeptic - estimated @ 30kBuried Oil Tank - Current owner will remove prior to purchaseImprovements:Planning to convert 2nd floor to residential (2x 2 bdrm apts) estimated @ 45kI'm planning on spreading the major costs over the first 2 years and I'm assuming 5% Vacancy, 5% Maintenance, 3% Management, 2% general utilities (water/common area electric).

@Jen Markosian  We do about 20 single family fix and flips in Michigan (just north of Detroit) each year and we invest in multifamily / self storage all over the country.