Land leases often complicate financing, limiting your buyer pool, especially if lease terms are unfavorable or the remaining lease duration is short.

You’re already ahead of the game—stick with Central Florida, and you’ll crush it!

I took a quick look, @Torianne Baley:1) With short-term treasuries now paying around 4.5%, guaranteed by the USG, why would anyone loan to you at 5%?

It's all fun and games until your bank freezes and converts your line for any number of reasons that are in the loan agreement.

Life’s too short.2. you’re making a 5 percent return on total equity now, and surely much more on a return on investment basis.

The remaining principle balance is just short of your final payment.Are there any questions?

In my experience, a property with multiple cottages and outbuildings can provide all kinds of creative strategies...some folks try short-term rentals or even specialized retreats if local regulations allow.

And if your investor friend’s private loan helps fill in any gaps, it might be worth considering that short-term pain for long-term stability.What do you think you’d focus on first... paying off that line of credit as fast as possible or jumpstarting the renovation to boost cash flow right away? 

I'm interested in trying the short-term rental market with a couple waterfront properties. 

This is an alternative approach for newly constructed buildings.RESIDUAL ESTIMATION APPROACHThis approach determines the cost of short-lived assets, such as 5 or 7 year property and subtracts them from the total project cost.