I watched the work digging for a sewer in the road in San Antonio and they must have been 20 feet deep- this was on a commercial feed on a main road. 

And pay another set of closing costs.If you do have to refinance in 5 years, the main concerns would be to make sure your credit is good for the refi. 

What’s your main focus when you look at an investment market?

Will be turning into a 4 bedroom home with complete main floor living.

@Kitty Walker- As an investor, I've refinanced multiple Padsplits and co-living properties (where we go direct to tenant without Padsplit), and I generally agree with your last statement, with some caveats:- if the renovation is done well, the appraiser may not even say anything that would indicate it is an "abnormal" SFR (has happened multiple times with me)-the investor may be wise not to make the house crazy- just leave a nice open living room, put double doors on the dining room so it can function as a bedroom now but be easy to convert later, etc.  

I am Texas based so may answers will skew more towards my region but I would leave to hear what are some other areas you may be paying attention to that isn't as popular as some of the main stays (Smokies, Joshua Tree, etc)Mine right now are 1.

My name is Thomas and I am an experienced lender/investor in Phoenix and Portland, Maine. 

When I started, I first wrote out my 3 main objectives for my portfolio, which was cash flow, appreciation, tax benifiets in that order.

Hi Trevor, the main question is going to be how close is the new construction to a urban/suburban area? 

I’m simplifying the numbers here to focus on the main concept, so I’m leaving out factors like expenses, improvements, property management, repairs, etc., for now.Here’s the scenario:- I bought my house in 2022 for $1MM and used it as my primary residence.- In 2024 (after 2 years), I moved out and converted it into a rental.