They also stated they only allow three brokers and three cash homebuyer “spots” in any given area, and they only move into areas where they can guarantee at least 600 leads per year.

I bought this home in 2013 and also did a cash out refi during COVID so buy interest rate is 3.875%.

No reserves and no cash flow = capital infusion from investors and/or return property to bank.  

Contrary to most business lending, the REI industry has a lot of "non-bank" lenders that provide attractive loans that can lower your cost of capital and improve your profit/cash flow. 

What does a cash positive investment mean to you? 

By then, you have a cash flow that can support hiring a bookkeeper.I recommend staying away from companies that outsource bookkeeping overseas.

Another question would be, if he subdivided the land using SB-9 and built a duplex or another single family on the new lot, is financing, cash out refi, etc the same as if you built on an empty lot?

Between the equity on the condo and the extra cash you have, you can purchase 2-3 homes. 

This means the buyer cannot write it off immediately but may recover the cost through depreciation over time.To maximize tax deferral, sellers should consider negotiating a price reduction instead of a repair credit to avoid potential taxable boot (excess cash retained).

How much cash have you put into the deal so far?