Based on all those factors, your best chance would be to partner with a more seasoned investor to get loans.

As a lender, it is my firm belief that honesty, transparency and service are the most important factors.

Both sides also need to factor in opportunity cost.

Consider the broader economic factors like local employment rates, schools, and public amenities, which can influence both demand and pricing.

Buying a second home for short-term rentals can be a smart move (especially in a vacation hotspot like West Palm Beach), but there are key factors to consider.

.- Dividing by 4 units leads to $1400/unit/monthly rent.What are you factoring in your ROI & cashflow calculations for maintenance?

Hi @Chris EhrhartThere are two prices in a negotiation, one is the offer counting multiple factors, mainly Cap rate and visible repairs when is a investment property.The other one is when you do an inspection.You listed 5 items here so I'll comment on each one:- Electric panels, this is likely to be found during inspection.

Thanks, Bernice One approach is to break it down by looking at similar vacant retail spaces nearby and comparing price per square foot while factoring in potential rental income once occupied.

Rates are based on individual property characteristics like proximity to water, elevation, and risk factors.- Insurance Requirement: Flood zones still matter for federal regulations.

Hello Dana, For that purchase price in Brooklyn, NY, you could be looking at considerable unknown expenses at this point.If the property is occupied, you'll have to factor in attorney fees and holding costs while you wait to gain access to the property.Furthermore, you could be facing additional costs related to title issues: open permits, violations, liens, judgements, etc.