How should I determine halfway house master lease amount?
The property needs a little more work, but we have an unexpected family illness that takes financial priority, so we are very potentially looking to sell as is ( AIRDNA shows 149,700 annually if 6 of the 8 bedrooms are rented 52% of the time and the property actually has 8 bedrooms )
Cosmetics are left to finish. We even have 90% of furnishings that we can sell separately if you're interested. St Augustine is a long established short term vacation rental area that is very AIRBNB friendly.
Owner financing available with 30% down, 7% 30 yr fixed. Zoned for the best schools in St Augustine- Nease High and Palencia Elementary. Each of the 4 master suites has their own thermostat control. Gorgeous private lot with a stream and NO HOA. Quiet neighborhood. Downtown Historic St. Augustine and the beaches both within 15-20 minutes. Easy access to 1-95. 30 minutes south of Jacksonville. Remaining rehab items are little bit of drywall, minor stucco repair, exterior paint, deck is framed, but awaits top decking. Cabana needs lumber, toilet and sink. The standalone studio ( 20x20 ) is needs interior and exterior paint and light rehab items to finish. It also has a bathroom. Kitchen needs cabinets. We have Frigidaire appliances on site and ready for install if you wish to purchase preowned separately, as well. Wood floors can be refinished- pine. 70% of interior painting done. Fencing can be done. The driveway is currently shared, but not legally shared and the neighbors have a driveway on the other side of their home and are aware a fence will be going in. The front porch also needs some work. 2 of the showers are tiled and there's a huge jacuzzi in the presential suite. The other showers have new valves and cement board. Huge attic with 8 4x6 cubbies that can be rented to longer terms or corporate guests for extra storage and income. New water on demand installed downstairs and new water heater upstairs. Well and septic inspected and good. The roof was replaced over the porch, cabana and studio and the main roof is re nailed, but roofer states 10-20 years of life left on the metal roof over main home. St Johns county allows for "2 heads/bedroom with much leniency for size of the bedrooms and home in it's entirety" per the county.
I will also consider the option of trades in the St Augustine area.