The Motel is the only apartment/lodging within 20-50 miles in each direction and 11 hours from Dallas Fort Worth, Texas.11 units total with 10 flexible apartments and lodging and 1 unit for Management5 one bedroom or suite units with separate living room, kitchen and dining area2 studio apartment units with two double bed overnight units and one single bed overnight units4.3 Star Trip Advisor Rating -- 23% repeat businessTurn KeyTerms: Owner Finance - No Qualifying Loan for SellerPrice $350,000 w/ Down Payment of $50,000Interest 5.5% for 40 YearsPrincipal Pay Down - $10K or less = +2%, $10K plus = +4%, $20K plus = +4% (For example, I put $10,000 towards Principal and receive bonus of $10,200 applied toward Principal.)Income:Gross Income for 29 months (6/2015 - 10/2017) = $168,888.00Total Expenses for 29 months (6/2015 - 10/2017) = $81,200.00Net Income NOI for 29 months = $87,688.00Monthly Net Income = $3023.00Annual Net Income = $36,284.68 (Average for 29 months)*Gross Income for October 2017 = $6987.00 (Sturgis Rally)Gross Income from monthly apartment rentals @ $599/month per unitGross Income from overnight rentals @ $68/night per unit *(For 2018, raised to $73/night)Monthly units @ $599/month have been as high as 6 units per month, yet varies!

The Motel is the only apartment/lodging within 20-50 miles in each direction and 11 hours from Dallas Fort Worth, Texas. 11 units total with 10 flexible apartments and lodging and 1 unit for Management5 one bedroom or suite units with separate living room, kitchen and dining area2 studio apartment units with two double bed overnight units and one single bed overnight units4.3 Star Trip Advisor Rating -- 23% repeat businessTurn KeyTerms: Owner Finance - No Qualifying Loan for SellerPrice $350,000 w/ Down Payment of $50,000Interest 5.5% for 40 YearsPrincipal Pay Down - $10K or less = +2%, $10K plus = +4%, $20K plus = +4% (For example, I put $10,000 towards Principal and receive bonus of $10,200 applied toward Principal.)Income: Gross Income for 29 months (6/2015 - 10/2017) = $168,888.00Total Expenses for 29 months (6/2015 - 10/2017) = $81,200.00Net Income NOI for 29 months = $87,688.00Monthly Net Income = $3023.00Annual Net Income = $36,284.68 (Average for 29 months)*Gross Income for October 2017 = $6987.00 (Sturgis Rally)Gross Income from monthly apartment rentals @ $599/month per unitGross Income from overnight rentals @ $68/night per unit *(For 2018, raised to $73/night)Monthly units @ $599/month have been as high as 6 units per month, yet varies!

Anything specific about Mesa or Glendale that would trip me up?

Someone who knows the lay of the land and can guide you on the right spot for you.I was in Nashville on a pilot trip this past fall and was privileged to meet with some really good realtors.

@Joshua Cetnar Be sure you pick someone who is FULL TIME in the business.The vast majority of agents are part timers or those who tried working in the field, got discouraged, quit to do something else but kept their license active - just in case they trip over a deal.Find someone new in the business who is hungry. 

If you're going to be making the trip regardless, your strategy is plausible - I doubt you'd actually profit off of it, but it could/would offset some of your costs.  

It didn't necessarily require additional trips.4.

Planning a trip this April to start looking.Thanks for reading.Andy

Good character in the main unit.The downstairs unit (currently 1bd/1ba) has tile and carpet flooring, and is about 1050 sq ft--very large for a 1-bed unit, IMO. 

For one thing, you don't want everyone being able to google all of your public details and spread them out here. 2nd - you don't want future tenants or business partners being able to google you and BP posts with questions come up. 3rd - having 1st and last name here will bring shady characters out of the woodwork, who may contact you with private messages, smelling money.