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Based on the information provided, it appears the agent has presented you with an off-market opportunity.

Owners who bought in 2021/2022 basing their estimates off of COVID time occupancy have been sorely disappointed in 2023. 2023 is essentially back to what it should be.

In a sense there is really no such thing as "accurate replacement cost" without having an architect draw up a set of plans, hand out the plans to three area builders, get price quotes.

If you're talking about conventional cash outs, the requirement is still 12 months if you want to pull based on ARV, otherwise you're limited to pulling based on purchase price.

@Aj EscomiendoIf you're not going to personally see the property, then you'll be reliant on others and they may be crooks or at best, just not have the same goals as you.So, you'll want to form a Tripod Team: Agent, Lender & Property Management Company (PMC).Agents & lenders are transaction based, so few of them will really "be there" for you if something goes wrong after a sale.

With the Army base, Hospitals, Universities and new Corporations, I was thinking that it might be a good city for MTRs and was hoping to hear if others have had any recent success.

The midwest just seems to make more sense to us based on our finances and our desire for cash flow.

When your property (LLC) is making money and you want to pull money out of it you do an Owner Draw.

In any case, it's always a smart move to consult with a tax professional or attorney to make sure you're covering all the bases when setting up an LLC.