BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

@Rachel Jane a lot of issues here to consider:1) Does the condo association even allow rentals?

The loan is with you, not with your tenant, so none of that means anything to them - in fact because you live in one unit and it's under 4, if you were self-managing you don't even have to abide by fair housing laws (at least on the federal level). 

After punching your rental income from tax returns MOST people more or less break even ion a rental.

I can’t even confidently say we would hear from them at if if we don’t reach out.

Even though cost of debt quickly doubled in 2022 and interest rates remained higher in good areas properties continued to appreciate in value.

If a single-family owner-occupied property is worth $400,000 - I wouldn't invest more than $280,000 (70%) in a note secured by the property.ITV takes priority over desired yield - so even if the note discounts to $350,000 based on desired yield, the investor still won't go beyond their maximum ITV. 

I've talked to a few plumbers and even a plumbing engineer about it and they all are a little stumped.That is an excellent suggestion about something to dissolve 1-2x a year!!

very high risk even I only do them with very specific investors in mind and a plan. we dont flip land we develop every one. 

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.