We are BRRRRing it and we’re originally going to rent traditionally, however we decided to look into it as an Airbnb, and when we put in current loan rates which will be near or at 7% when we are ready, we’d only cash flow about $150 a month 😱, but as an Airbnb our projections are around $1,300 cash in our pockets monthly. 💰 At this point is a no brainer 🧠 and we know if it doesn’t work out or we don’t like doing it we can always revert to a traditional rental. 

., the appraisal for 5+ is at least $2k-$3k) and the financing structure by lenders because Fannie/Freddie don't generally buy loans for commercial properties.So, for you personally, the biggest driver for the type of your next property is probably going to be the amount of a down payment/equity you can put in the property.

You should have a chat with your accountant, if you had a loan on the property, you may need to buy a property for more than the cash you received to defer 100% of the gain.Best of luck

Its a tiny loan for any institution.You'll have to get hard bids from a local GC, but maybe $110/ft?

Possibly break loan covenants and can't cure default, lender takes back property.  

Consider a 15 year loan.

There was also a loan grant available from the state of NH for first time home buyers for 3% down payment assistance.

This should roughly take me to 150k per year and carry the loans for land and construction.

If you're a single mom with student loans, a car payment, and living paycheck-to-paycheck, then $20,000 would be devastating and a reserve is critical.

I have been less active on the investor homefront dealing with an unexpected curveball I got thrown in life.Still have big goals for Q1 2025: -Get Pre Qual'd for VA construction loan(may be until later in the quarter as I also have to refi out of my current VA loan to regain full entitlement.