This will help you project cash flow accurately.Property selection: Location is critical—walkable access to the beach, restaurants, and attractions often drives higher bookings.Management strategy: Decide early if you’ll manage the property yourself or use a local property manager.

This helps attract the right people.

The 3% interest rate is attractive.

Asking price is about $209,000.Here’s what I’ve noticed so far:Foundation work: definitely needs to be inspected, most likely repaired.AC: 4 new units, 2 fairly new, 1 old.Roof: needs inspection.Exterior: trees need to be removed, new windows needed, new front porch, repainting, trim, fixing wood rot.Parking/Access: back parking lot probably needs to be redone, back stairs may need to be replaced.Financials:Cash flow is projected around $30,000/year.Cash return sits in the 12–14% range based on my analysis.Here’s my hesitation: a big commercial real estate guy I spoke to locally told me this kind of property would turn me into a “slumlord” and that I shouldn’t touch it.On the flip side, the cash flow and return numbers are attractive—especially at this price point.

Tenant 2 has been growing concerned about this not only because has it been unsightly, but shes worried about pests, bugs, etc. being attracted by the piles of stuff.

It can feel a little vulnerable, but it weeds out the tire-kickers and attracts the folks ready to close fast.

After listing, I’ve had to reduce the rent price three times to attract interest.

As others have said, keep in mind that C or D properties attract C or D tenants.

While we just got started, we didn’t get any bookings/inquiries over the 4th of July weekend, which makes us wonder if holidays without major events don’t attract much traffic in BCS.

For more stable, family-centric neighborhoods, Onyx, Beverly, and Glendale–Heatherdowns tend to attract long-term tenants because of the schools and overall lifestyle.