I AM NOW USING MY 9-5 TO PAY OFF THE PRIVATE LENDER EVERY MONTH WE ARE SET BACK FINANCIALLY BUT THE future IS BRIGHT ! 

We decided the cost was too high and it was not worth it from a financial or risk perspective.  

It could impact your home equity and financial security.For a safer and more specialized alternative, consider a Fix & Flip loan. 

With the potential for a small financial loss on your end, litigation would certainly not be worth the hassle and expense.

This gives you a foothold in the market without overextending financially, and you can always explore other investments later.If you can find a multifamily property in Asheville, that’s an even better house hack.

If so, invest.Then ask yourself if you're financially fit; can afford this property to make it 1.25 DSCR and have significant reserves for vacancy, capex, lead times, etc.

Unfortunately with those numbers it's tough to find a non-bank lender/financial institution that will lend.Usually loan minimums are $50K and the up to 75% LTV on purchase-money/70% LTV on cash-out refinancing, which basically means you need up 25-30% depending on the type of financing. 

If you need financial help, ask under the "Finance, Tax, and Legal" forum.

@Denise Lang some copy & paste thoughts:TYPES OF RENTAL INVESTMENTSRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

However, if you are an out-of-state slumlord, you can now pass 100% of the financial and legal liability of maintaining a property onto some poor local.