FYI, we were able to get a 5.5% rate from their recommended lender with 20% down.  

Gifting equity in a house may be more trouble than it is worth if you are not near the life-time exclusion1) Potentially having to get the property appraised everytime an equity is gifted2) Having a title company update the title every time3) Exemption of the gift tax return is normally for cash gifts below the annual gift tax exclusion, you may still need to file if you gift non-cash4) If there is partial ownership over several years, having to properly pro-rate certain items such as real estate taxes, mortgage interest and rental income if the property is a rentalBest of luck 

If any short term financing, risk adjust upwards another 2% points on the interest rate.3.  

.- I was scared to drop out of law school In 2021 and go all in on REI, I’m super happy with my decision.Now, whenever I’m scared/nervous, I take that as a sign that I should probably do it, and that it’s room for growth.Yes, sometimes it will be a mistake, but that’s how you learn.4) Value Relationships over everythingGood relationships will bring you more joy and take you farther than being selfish and/or greedy.What principles do you live by?

What is your current rate and what are you being quoted?

When evaluating markets for rental properties, there are a lot of factors to consider: population growth, employment rates, rent to price ratio/GRM/Cap Rate, rent trends, vacancy rates, etc. 

It stops nonsense before it starts and keeps your property safe (and your sanity intact).Hard on Paper, Soft in PracticeMy lease was stricter than a middle-school dress code: no overnight guests, no smoking anywhere, and quiet hours that would make a library blush.

That said, I am thinking about Wake Forest, Garner, Apex as frontrunners based on the fact that they are closer to RTP and have generally good schools.

What is the interest rate on the mortgage? 

You could buy a distressed deal, add some value (as a team), and refinance when interest rates are more favorable.