If I were in your position, I wouldn't worry until proof of the contrary because you should be ok if the business is running well.

The seller was willing to do a carryback in the second position and the bank was the primary position.

If risks feel too high, consider waiting until your live-in flip is complete and your position is stronger.This post does not create a CPA-Client relationship.

Positive is it’s VERY nice.

Appreciation rates are solid and deals are still positive cash flowing.

Over the summer, we got a “house manager” position at a very elite clients multi-million dollar property.

Software: Stessa for accounting, Deal Check for quick and dirty analysis of potential purchasesMarket positioning: Pet-friendly (fenced-yard, accept dogs and cats), well-designed homes, off-street parking, suburban, full cable TV package (not streaming only)Pricing: Targeting upper-middle market (not budget-conscious guests)So far, so good (since 2020)

If you really want to supplement your income, my thought would be to take out a HE loan (or some other 2nd position loan) and use that to fund a down payment on a property.

If the answer is none, then it is time to re-evaluate the plan.1 deal closed (September 2024)1 deal scheduled to close 23 December,2 deals look to start off 2025 in a better position.5 dispos are rural property30+ follow-ups I didn’t hit the goal.

If you can hold on till first part of January the showings and everything else should pickup.This would be my action items: 1. hire a new agent that can sell the place, and get you numbers are rent and selling and sell the place. 2. be honest on the numbers you can get on an ARV so that you can sell it 3. start to get the conversation started with a couple lenders on what these numbers on refi would look like for you and this property 4. my suggestion would be to refi/rent before selling at a loss because if numbers work you can hold for a couple years then sell, but this is dependent on your cash position and liquidity of your situation.