A friend of mine owns 4 units and has been producing positive income for 3 yrs now.

Sometimes a well meaning and apparently compassionate action is actually doing harm.

In fact I would suggest holding on to it long term and letting your tenants pay down your mortgage.I don't believe you can 1031 into Land, since it not income producing, so you may want to check that out. 

Talk with lenders to get on a plan of action for the future.

All this being said, it’s great you want to take action, but you really want to be careful with a property like this.

FYI, the short term rentals will be underwritten as if they have a market rent lease on them, even though they ought to produce more. 

Glad to hear your finally ready to take some action.

Thanks for sharing this, I myself have read vivid vision twice, and have still not don't my own vision...thanks for the kick in the butt to go take action on it!

(we’re being conservative @ $1200 for analysis purposes)Refinance to 30-year conventional after 6-months of tenant occupation (our conventional lender tells us they require the 6-month duration)      - Pending fed action / outlook, we’re using for analysis purposes 1-point and 4.5% for a ~18-month out                  forecast on conventional refinance investment property rates.

@Srushti KhairnarHopefully you listened to the inputs on the thread and took action.