You may be better off with a higher rate and the flexibility to access the equity in that property to grow your business or even bail you out of a jam.

@Jaycee Greene would there be a difference one way or another with this use?

I have 2 SFRs under a sub-to cash contract.

To use it, you have to make a lot of assumptions.

It's been a tough sector to be in.  

As a new real estate investor you have to establish some business goals, if you want to treat it as a business and not a hobby.  

You can list the property as a "net listing" and take the difference over what the seller is willing to sell for that way. 

Quote from @Felicia Nitu: Quote from @Jay Hinrichs: hope it works.. but throwing in the affordable housing requirement a lot of times kills the project right there.Also at least in markets I have worked the time lines START from completed submission.. you make your submission and then get an incomplete letter this goes on for months and months soo time lines still extend.. but at least its a step in the right direction hope if works.Hi Jay, the affordable housing requirement can definitely be a dealbreaker for some projects.

Find a proven strategy and focus on that.

I make it back a few times a year to Rochester as I still have family there.