If the owner states that she is no longer operating the property as a bed and breakfast, has notified the Chamber of Commerce and officials at the city planning department that she is no longer interested in running a B&B, can I consider the property just a plain old SFR? The subject is kind of a white elephant (actually a pink elephant from the current paint job, yechh.) 100+ year old Victorian. It's an historic house and if you pull up the address on streets and trips you'll see it named as an Inn. It's very large, very original and not in very good shape structurally. However the interior is very nice and takes you back to the turn of the century. 6 bedroom and 3.5 baths. It was listed as a commercial property 4.5 years ago and did not sell despite a couple of price reductions. My feeling is that because the city now has superior transient accommodations this property has been by-passed in the B&B category. The zoning is multi-family residential and a B&B is allowable under a conditional use permit. If it stops operating more than 6 months, a new permit would have to be applied for. She just notified all of her plans a few weeks ago (about the time she started trying to refi it :blink: ) There's a good market in this town for these old Victorians as historic SFR's. Probably a better market than for a B&B. I feel pretty comfortable appraising it as a SFR but feel the need to explain the situation I have just described. My concern is the income approach. As a SFR this approach would not be applicable as an investor would not buy a home of this size and price range for income and there is insufficient rental data to develop a reliable GRM. However, since it has had income historically as a B&B, how do I address this without invoking departure? Maybe I haven't asked the question correctly.