there you go. the problem is appraisal. comparable sales, and your approach to building an ADU against the recommendation of your market. super beginner strategy it's popular in ohio as well but just not worth the investment. 

I might also compare it to other markets..like Austin or Phoenix..where property prices have been shifting (from what i read in CNBC) but still show growth potential.

The fees for a refinance / cashout would be ridiculous compared to the amount of money you're seeking.

I have been trying to find a rental in Austin and numbers are way off. Thinking of moving to nearby cities. What is your experience of this market as well as Temple.

It's worth comparing terms between your current lender and others to see who offers the best deal in terms of rates and fees.Purchasing a Property: Whether you purchase through regular listings, an agent, or an auction depends on your risk tolerance and expertise.

What is the expected return on investment, and how does it compare to syndication in terms of advantages and disadvantages? 

A property doesnt increase in value just because an STR is run successfully on it. its value on paper is based on the comparables in the area.

Also would love answer to the following: - Are there any specific challenges or advantages you experienced compared to a JV structure?

Before jumping into the condo, I’d take a closer look at whether the $300/month cash flow is worth it compared to other options, like a small multi-family property or a property in a higher-yield market.

Chicago has such a great investing community compared to most places in the US I have visited!