@Michelle Lutz Looking forward to catching up and the meetup!

The appraised value is exactly what I estimated, as well as the market rent and expenses.

From a senior investor perspective I’m I going about it the right way?

I agree with the others.

You probably know that because you can see the day that the payment comes into your account. 

All 3 of the "owners of record" on the tax records were deceased.The seller was the son of one of the deceased. 

Any advice you can provide would be greatly appreciated1) In the Short-Term Rental Ordinance (Baileys harbor), I found the following:“If the rental of a Residential Dwelling is less than seven (7) consecutive days, the first dayof a subsequent rental of less than seven (7) consecutive days may not begin until the sixth(6th) day after the first (1st) day of the immediately preceding rental.”Question --> Does this mean that we cannot host another guest within the same week if the first guest's stay was less than seven days?

Expanding from 4 bedrooms/3 bathrooms to 6 bedrooms 3 bathrooms by excavating the basement.

Before we get started we would like to come up solid written business plan that is organized in a clear and concise manner.

A little about me:I hold a Certified General Appraiser license and have been working in corporate and commercial real estate for over 25 years.My recent focus has been on property investments and appraisal work, including commercial and residential properties, lease-to-own agreements, and broker price opinions (BPOs).I’m always looking for opportunities to expand my portfolio and knowledge in real estate, and I love analyzing market trends and valuations.I’m here to connect with other investors, share insights, and learn from the wealth of knowledge this community offers.