I expect it to collapse similar to stewarts creek, which has become quite the cesspool.

Also and don’t quote me but I believe you can use a portion of the expected income from renting out the other units as a qualifying factor for your property.

We are now past the Two month point so feeling it was overpriced In my opinion and wanting to narrow down the issue, I had an appraisal done and sure enough, the appraisal came back $30k below list price, I said lets list it really close “$5k” to the appraised value, my agent says no one wants to pay list in the DC market now that it is softening and becoming a buyers market, so I will end up selling it below current appraised value if I did that, especially if the buyer ask for concessions which will happen and be expected on a property over 60 days on the MLS.Anyone ever market a property close to or at the appraised value and disclose the appraised number so they don’t get lowball offers?

He expects to sell by owner, or use flat rate MLS service and pay 3% commission if needed.

Make sure the numbers work even after you tap into the equity, but I would expect your GOI to be over $1700/month on the new loan, even at current interest rates.

Do you expect to find a better opportunity within the duration of the loan?

He spayed the panels and the tracks a light beige to match the other ceilings, and it looks nicer than I expected.

You seem to really have the right attitude and expectations going forward. 5 years is a very reasonable time to achieve the financial freedom you are seeking.

Remember, if there is attractive available financing or you’re willing to do a seller carryback, you can likely expect a higher price and a lower cap rate.In summary, there are many other unknowns.

Always buy with positive cashflow, never buy expecting appreciation.The deal must stand on it's on now.You will be paying 400 every month for the privelage to see if the property appreciates.