How to structure this deal?
I currently have a property I'm looking to structure and maybe I'm over analyzing but I'd love some feedback or another set of eyes on this. I'll include a snapshot of the numbers. Basically, I'm looking to acquire the property either sub2 (which isn't the issue) or out right purchase, but in terms of exit strategy if I purchase it out right then do the numbers look a bit tight to work as a fix/flip?
Alternately, if I acquire this as a sub2, I was thinking of exiting as a Lease-option OR researching and analyzing the AirBnB approach...
As you can see, the mortgage balance and Heloc balance in the picture make this tight to run as a flip, along with an estimated rehab cost of about $40k.
Rental rates vary, as I'm seeing on propstream that rents can go for about $1,855. Rentometer is citing $1455 for rent. This is a 3bd/3ba condo in a VERY great location, which is why I was thinking AirBnB, but I'd need to deep dive into that realm to see if it would work. Based on the image and numbers above, what are your thoughts as a potential exit strategy?