Higher end home buyers are usually more rate and market sensitive.I see you're down in Texas, so if that is your market, weather plays less of a factor consideration as it does for us up north (no one likes to move in the winter unless they have to and things slow down considerably).  

Also, It is an older home so lead-based paint may come into play during a potential demo vrs a kilz paint over. 

I am most interested in STR as I love the idea of active management and playing the hospitality game.

We have a one year old daughter who keeps us busy and we love playing sports and spending time outdoors with our free time. 

With regards to the interest, where do the Applicable Federal Rates (AFR) come into play?

A lot of people who played the 2-1 buydown game in 2022 are learning this the hard way right now as their rates are going fully-indexed and theyre not able to refi.

I would probably approach your tenant with this information and say, "If that is the way you want to play it, so be it... but be aware you are really screwing yourself if you go that way" and explain that situation to him.  

I hope that this “role play” makes sense for anyone else - the point is not to assume something that is not actually in the law, because it may show you acting in bad faith if properly spun by the other side, despite your reasonable desire to want to have evidence.

The attorney we use charges $800 for uncontested and $1,500 if contested. it's not wise to look for an inexpensive attorney when its hundreds of thousands of dollars at play.

It is a longer play, and you need to perform when they send you a deal.