We are not pursuing a license on this property to do STR because we plan on moving within the year (hopefully within months!)

The plan was built around that payment so the maximum could go to cash value. 

One of the very last podcasts (218) talks about deal flow and some marketing strategies, listen to it carefully and you'll learn most of what you can with a guru, but above all, apply it...Best of luck!! 

Ultimately though you should plan on using any model at least 100x before you "master it".

We plan to live in it for a couple of years, fix it up, and then rent it out or flip it. 

Are you planning to invest locally in Rhode Island, or are you open to investing out-of-state?

I suppose we could leave it as-is for the time being and not raise their rent by the $200 we had planned to until we could afford to repair it.

Thank you,StephanieHi Stephanie,I would highly suggest starting with a call to the Planning Department and let them outline what is feasible for the specific property and what steps you'd need to take to get it where you want to go.

That would fill in the daytime and nighttime traffic and keep the building busy which would attract higher paying tenants for all of the other suites.A mural is a part of the plan.

As Jaron stated you will need to plan for the unexpected, such as vacancies and repairs.