one truism I think for rental real estate is returns and price points are very much risk adjusted highest returns lowest price points  biggest risk.. smaller cap or return and prime location least risk..

. Adjust and fix any closet hangers and shelves. Paint all closets and install secure wooden shelving. Install blinds on all windows. Install curtain rod on balcony door. Haul away any demo/trash – Owner pays for cost of trash – contractor to provide all the receipts Pick up any/all materials for project and deliver to jobsiteKitchen Install new cabinets. Remove soffit and half wall, reposition outlets and switches. Extend half wall to match hall. Install bar island (12 inches) on half wall. Install two pendant lights above the half wall. Install new tile on kitchen floor, including floor cement board and tile. Install new appliances (refrigerator, range, microwave, dishwasher, and garbagedisposal). Run dedicated electrical lines to the refrigerator, range, microwave, dishwasher, and garbage disposal. Install faucet and cabinet hardware. Install all necessary plumbing Install backsplash. Move outlet from behind range to more optimal location Install GFCI outlets within 4 feet of each other along counter space.o At Least two dedicated lines – all on GFCI breakers and at least one GFCI outletper circuit Install dedicated electrical circuits as follows:o Microwave: Dedicated 20-amp circuit (12/2 NM wire with a ground).o Garbage disposal: Dedicated 15-amp circuit (14/2 NM cable with a ground).o Refrigerator: Dedicated 20-amp circuit (12/2 NM wire).o Gas range: Dedicated 120-volt, 20-amp circuit (12/2 NM cable).o Dishwasher: Dedicated 15-amp circuit (14/2 NM cable with a ground).Bathroom Demolish existing bathroom elements. Install new cement board on floor and tub surround.o Seal with cement tape and red guard Install new fan, light, mirror, vanity, and replace toilet lid. Remove old tile and install new tile. Install new hardware and replace any old drain and supply lines. Install niche and tile from bathtub to ceiling. Install new bathtub and GFCI outlet. Light and fan on same switch Install all necessary plumbingLiving Room Install sliding door board trim. Install spot lights. Install 3-way switches in the hallway, living area and staircase (where marked). Install new air vent covers.Hallway/Staircase Install 10-inch LED light. 3-way switch (one near kitchen other near bedroom) Place laminate with Metal bullnose Install spotlights over staircase and one at landing at the bottomo lights on 3 way switchesBalcony Paint railing. Replace lightBedrooms Install spotlights in bedroom (up to four per bedroom). Install new fan. Spackle, sand, and paint. Paint closets and shelving, ensuring proper installation of shelves. Install spotlight in walk-in closet.Outside Paint stair railing. Install or repair 2 doorbells. Install or repair 2 exterior lights.Materials Included Cement/hardy board, drywall material. Granite slab for countertop and bar. Kitchen sink (D shape). Setting materials (thinset, grout, drywall tape, red guard, etc.). Baseboards, door, and balcony trim. Plumbing materials (excluding fixtures). Fastener screws.Total labor cost: $13,000

So no, tis is a horrible deal for you.Now of course I know nothing about your property (since you provided so little detail) so if this is a huge 5 BR house with pool on a lake somewhere, then you need to adjust my numbers.

You can adjust them and shorter PPP's tend to have higher rates than long PPP's so keep these in line with you strategy with the property whether you want to hold long-term or refinance in a few years.If you're still looking for financing I'd be happy to help.

A line of credit is adjustable rate with interest only payments that will have a "draw" period usually of 3-5 years for investment properties (usually 10 years for primary home) then will amortize over the remaining term after the draw period.

With an owner-occupied loan, you can buy a house with 0-5% down and get 30-year fixed rate financing so you're not dealing with adjustable rates if rates go back up and not dealing with a balloon payment in 6-24 months which is plenty of time for an experienced investor but not a whole lot if you're new. 

Since your lender requires prior experience building and selling/refinancing a single-family residence (SFR) on your own property, you may need to adjust your approach.

When you go to sell, you're subject to tax on the amount of profit between your adjusted basis and sale price, not your purchase vs sale price.Recapture is not repaying the depreciation.

As the economy shifts, there will be new ways to grow your portfolio, but success will require staying nimble and informed.Bessent’s commitment to cutting the federal deficit involves a mix of spending cuts and revenue adjustments, which could directly affect government-funded housing programs and infrastructure investments.

My easiest, no hassle, lowest expense rentals are the ones where the tenants stay 5 + years, do minor maintenance themselves, call me immediately with any issues so I can fix them before they become much more costly, and agree to annual market adjusted rent rate increases.