We could make a decent down payment with the 40k, but due to us having little money left over at the end of the month, I'm worried about buying another deal with minimal cash left over after the down payment and not having two mortgages.

Must have a decent backyard and/or rooftop terrace.* Property in a flexible market to switch the rental from an STR to LTR (if STR doesn’t work out).Questions:* What are the prospective neighborhoods or areas within and around Houston for STR investments?

If other people take aggressive positions and gain or lose money that is their risk assessment.  

A 6%+ annual appreciation rate is decent. 

From what you posted this is going to take a decent amount of all to make an already unprofitable property just a little less unprofitable.

I am not going to deep dive here.I usually lose these sorts of deals to people willing to underwrite more aggressively. 

Off-market and direct-to-seller appear the best avenue toward decent margins.Pricing & ARVs: Home values in many areas are holding their own, but buyers are getting pickier.

syndication/private equity deals have a much better chance of penciling and providing decent CoC as there are more economies of scale and sophistication at the GP/operating group level in general.Thanks for reaching out Dan.

80% LTC is standard on ground-up construction, if they are using an experienced builder, have decent credit & the after-build value is sufficient, it should be a fairly straight-forward loan.The main problem I see with non-experienced builders trying to build is lack of funds, they will need 20% of project cost + Closing Costs + 6 months reserves.

My capital continues to be completely tied up in the property since I'm pretty maxed on my LTV and likely can't unlock any more equity with a HELOC or something like that.The goal of this project was always meant to be a short term exit so I could continue to try and aggressively grow my real estate portfolio, but now it feels like I'm stuck at first based.