Caution that these repayments generally cost more in the long run and the strategy would be to refinance again in a more favorable interest rate environment. 

Operating real estate is a more cash-generative business but requires work, effort, and time.

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

@Jim Hagerman Yes, if you want a more detailed analysis.

lots of ways to look at this. happy to have a more indepth conversation with you.  

So that is a question you have to evaluate.I think I would probably cut my losses and buy into a more affordable house for yourself. 

I am thinking about using hard money to fund my new build but once completed refinancing thru a traditional bank to get a longer loan and a more favorable rate.

The median time to contract has increased by 23.33% to 37 days, signaling a more thoughtful buying process.

More money in the market means more opportunities for everyone.Active Inventory: A whopping 52.6% increase in active inventory, from 2,717 to 4,146, means more options for buyers and a more balanced market.Despite a slight dip in the percentage of the original list price received (down 1%) and a minor increase in median time to contract (up 11.1%), the overall sentiment is overwhelmingly positive.

If you were to partner with another more experienced investor to purchase a short term rental, do a cost segregation, and "materially participate" then you could gain the benefits you are looking for without negatively cash flowing, and you could work out a deal where you maybe only have to materially participate for the first year to claim your tax benefits and then you can act as a more passive investor.