I'm eager to start the work of finding a drive-by appraiser and calling title & insurance companies to close this transaction.

With a requirement to hold and rent to Section-8 for 5 years upon completion.Much safer loan, much more likely to house these people in safe sanitary conditions (over the long haul).Just my 2 cents.

For time horizons of 5 years or less, I usually prefer something safe like a HYSA or money-market fund.

Based on the numbers, it sounds like the high origination fees, combined with the 70% LTV cap, are driving up the costs, especially if the lender is being conservative with their appraisal values.

I currently don't know where you are in your investing journey, where you are trying to go, or if you are walking, riding a skateboard, or driving a Lamborghini.

On average, a safe number would be 1/3 of the building value can be reclassified which comes out to $86,790.In 2024 bonus depreciation is 60% = $52,074In 2025 bonus depreciation is 40% = $34,716These $$ amounts are what you can write off in year 1 against your W2 income as a “paper loss”. 

I like them both, in general, but the best way to find a town to invest in outside of where you live if it's not affordable and if you don't want to be withing driving distance easily (recommended) is to make two lists:1. every town you have ever lived in or visited for more than a month2. every town your closest friends and family live (the ones you like)Then you take those two lists and see where they overlap with the data or lists you are using.

I use the term safe harbor - meaning if there ever is issues with it then the attorney you drafted it is gonna have to defend it.

I  was thinking about and about to start working on becoming a real estate agent, but  also I cannot drive because I simple never learn.

Thanks @Max Emory & @Jake BakerI am in the process of test driving Stessa to see if it helps with improving my efficiency on the property management side, including keeping track or insurance, property taxes, maintenance etc.