Despite the storms in W FL we are seeing YoY rate and occupancy increases 24-25.  

My agent is saying that we are unable to split the contract that way (or reduce the purchase price), so I'm trying to figure out options.

Anyways we are working with an attorney now.   

Was it included as a credit/debit on the HUD so it should have reduced your cash to close? 

If your manager is just 'keeping an eye' on things, collecting/reminding on a few rents here and there and some light cleanup while being compensated in free or reduced space rent then classifying them as 1099 subcontractor is great. 

Normal wear and tear would be a few small nail holes for hanging artwork, a clock, etc.

Is there a way to reduce the amount of hours so you have more time for other activities?

Purchase price: $715,000 Cash invested: $297,000 Current Price: $830,000 (originally $950,000 on 4/13/2024, reduced by $120,000 in 6 months).

We are getting a terrible return on our equity but I guess that happens when you are hovering around a 50% global LTV. 

This would obviously reduce my cash flow on both properties, as I would be paying the minimum HELOC payment plus extra towards the principal to pay it off quickly.