In the chart below, the green line represents the 15-year fixed interest rates, while blue signifies the 30-year fixed interest rates.Here’s what happened to the prices (note: this is only for the segment we target, not metro Las Vegas or other property types).Sales - Median $/SF by MonthDespite significant interest rate hikes, $/SF increased in 2023.

This particular product in theory could work for any rental model.

Now, it's possible that you can buy the property as a 3-unit using the owner-occupied financing and then make the modifications to turn it into a 5-unit and, as long as you are making timely payments on your mortgage, the lender wouldn't know or care that you have now changed this property to something that the loan product no longer supports.

Our agreed upon sale price is going to be about $215,000.

I thought there might be an industry standard for a sale distribution.

My career has been primarily focused in a sales capacity, most recently in the enterprise Software-as-a-Service space.

Basic leverage methods would be to Sale and pay taxes, Sale and do a 1031, or collateralize this asset to buy another asset. 

Tax sale is extremely competitive right now and returns have been driven down by the competition. 

It's a violation of the due on sale clause if they are SFR's and less likely to get lender approval.

Negotiated 9k off asking and an additional 2k in closing costs through our agent and the home then appraised for $14k over the sales price.