I don't know that I would spend this kind of money to buy down the rate. 

In the old days, grandpa would buy the shingles and spend his week of vacation from the factory replacing the roof when it was needed.

As a result, many investors (including myself) are either spending a very small premium for way fewer headaches in other markets or moving farther afield to more promising opportunities. 

There is so much content already here on BP, why don't you just spend a little time reseraching?

Spend more than half of your total working hours in an RE business in which you materially participate.2.

If you have the extra time, I recommend spending some time calling owners around your area.

Why we build the same floorplan over and over again:1) Easier for Trades and Faster Build Times: Our trades have been working on the same layouts repeatedly, so they have become more efficient.2) Less Mental Space for Decisions: We don’t spend too much time deciding on which floorplan to build, we focus our time on growing the business and serving our customers.3) Best ROI based on Square Footage: The floorplan we build gives us the best return on investment.

The cash out wouldn't fully pay back my personal loan plus I'd need to spend 6-7k to furnish the place.

In all fairness, making between $300-$400K on deals this size is incredibly good money given the time you spend.

Stop hanging out with your deadbeat buddies who spend all day drinking, talking sports, and otherwise wasting away.