This is all indications of a super sensitive earnings, extremely sticky projected inflation, and the bond market being way in front of the Fed. 

There are tons of loans out there that use just the projected or actual income from a property vs the payment of the property (DSCR loans). 

Paige, this sounds like an exciting project!

The project was budget-conscious but impactful, ensuring the unit is ready for future renters.Reflecting on 2024: Wins, Challenges, and Lessons LearnedLooking back, my first year as a landlord was a crash course in property management.

The project was managed by one of my property managers for a 10% fee.Leasing and Property ManagementWith renovations complete, the property was ready to be leased.

An appraiser likely won't be able to value a 1-4 unit property based off STR rents (whether projected or actually incurred), and if they are, the lender won't lend off said valuation for their applicable value (value they're lending off of). 

We’ve just finished our 2025 planning meetings for our six largest projects, and it’s been an interesting process. 

A tidy profit, plus confidence to tackle the next project solo.On the topic of self-directed IRAs: While they’re fantastic for gaining experience and diversifying into real estate over time, they can feel restrictive if your main goal is scaling quickly.Here’s what I’d focus on:Using Equity Wisely: A HELOC or cash-out refinance could unlock funds to pursue a flip or duplex without touching your 401(k).Partnering Smartly: Your realtor friend sounds like a great resource.

The lots will be great to develop (either by us or another builder) and that's where the big payback will be on this project. 

And the fact that you're local, on-the-ground, gives you a massive advantage.