A few other houses (all single family houses) on the same street are on the market for rental and they (including my house) all get grouped and nestled under one cover listing as “units” of an apartment complex.

If things go sideways, you discovery greater rehab expenses, the market takes a turn for the worse, you can get in the red quickly. 

I think it's very dependent on the property and market. 

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

They would likely be able to confirm that your expenses are reasonable for the area or that your rents are at market rates.

You may qualify based on Market Rents or Lease Agreement.

Im not expert but Ive took out a heloc and dragged on going on my advise and it suckedHi @Mario Morales, There are 2 things I would pay attention to in the scenario you describe. (1) Most cash out loans are limited to 75% -80% LTV meaning you wouldn't be able to get all of your cash back out. (2) The interest rates I see in the market are closer than what you've listed.

This is one of the main inherent risks with pre-construction, and the pre-construction market has cooled, and with impeding tariffs, there is some uncertainty around where prices will be in the coming months.One thing to clarify, are you looking to buy an investment property or a primary residence (or perhaps abit of both where you live in one unit and rent out the other)?

No residual marketing and no marketing for each properties uniqueness.

I don't know how much you have but a build to rent triplex all in our market is 150k liquid normally with full return of capital in 9 months.