I would certainly rather have the tenant pay $3,500 and personally pay an extra $100-$500 for a whole new unit. 

On a personal note, I enjoy the conversations I have with noteholders who reply to my marketing, and I enjoy being part of the secondary market which supports seller financing. 

Keep copies of all documents related to the offer and any amendments made during negotiations.Hope this helps!

This could make your ADR less competitive, but if marketed correctly I'm betting that people might perceive more value, which keeps occupancy at least the same.I'm thinking of a model where you tell guests they have "add-ons included" like grocery delivery, prepared breakfast package, attraction tickets, inner tubes, etc.

Keep in mind you will get a lot of no-shows so group the showings so you don't waste your time.If you are in Long Beach, check out CSULB and see what forums they have to post rooms for rent.Good luck!

The schools ignore personal finance and business and hence people enter the world totally clueless as to basic concepts of business and finance.  25 years ago when I was financing small investors I made a loan to the purchaser of a small 12 unit apt complex.  

Perhaps you keep a few that are easy to manage to pass onto your heirs so they can get a step up in basis. 

If purchased with financing and the security interest represented by the UCC was timely perfected, I would have a completely different opinion.It is actually a loan, however, the panels are not attached to the property as is stated in the agreement:"Personal Property.

To avoid going through the same poor experience, keep reading.Even if someone gives you a referral here, do NOT make the mistake of assuming that the PMC will meet your expectations, just because they met the expectations of the referral source.In our experience, the #1 mistake owners make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.It's often a case of not doing enough research, as they don't know what they don't know!

One other thing to keep in mind is appraisals are estimates not exactitudes.