If you do your idea on one property, you'll be sitting and waiting a long time to pay off that mortgage before you then use that money to buy another property.

I have seen this range from as low as $100 up to $300.Do I need to pay anything before sitting at the closing table?

However, rates have since moved upward.A 30-year fixed rate mortgage is once again sitting around 7% interest:For broader context, here’s a chart for 30-year fixed mortgage rates over the past 5 years:The real estate industry hoped 2024 would see a recovery in which mortgage rates fell and home sales climbed.

Have a sit down and talk to him. 

Since it’s a new build, I was able to negotiate some great perks, like a 5.875% interest rate, no closing costs, a fridge, blinds, and even a backyard firepit.Pros:Good school districtLow interest rateMinimal CapEx and repairs (because it’s a new build)Low insuranceHigh-quality tenants (due to the school district and being a new build)Cons:Lots of new builds in the area, which could drive down prices and increase vacanciesThe Numbers:Price: $290KInterest Rate: 5.875%Down Payment: 25%Monthly Mortgage + Insurance + Taxes + HOA: $1,480 (I got really low insurance since it’s a new build and Alabama’s property taxes are low)Property Management: 10%Rent: $1,800 (this is under market because I wanted to rent it quickly—most units in the area were sitting vacant for 100+ days.

Jaron Walling said something that caught my attention, "search for and buy a bad roof, leverage it during the negotiation"....especially of the property has been sitting on the market longer than normal for the current market, a "bad roof" might be a gift from the real estate genie.My point is this: get good at estimating and fixing a bad roof (or any particular problem found with most houses that sit on the market longer) and you'll get comfortable buying/fixing properties that scare off other buyers. 

I'm thinking interest rates will sit at 6.25-7.5%, with total cost at roughly 210k.

That said, in the scenario you described, I’d either end up homeless and broke or starving to death, lol, while sitting on $275K of equity.

Scheduling is the hardest part of construction , good subcontractors are not sitting home waiting for the phone to ring , they are scheduled out weeks if not months ahead of time .

You need to sit down with someone and do this on paper.