You might find that installing a mini-split system, properly insulating, and ensuring the finishes match the main home’s quality will make a difference in how the appraiser views it.

The seller becomes the bank and pays capital gains one time on the downpayment (which keeps it low to make sense for them) and then also monthly on the payments (also incentivized to just match how much he wants a month).

More competition equals less income per cabin.It's possible you can grab a cabin at a low price from someone who bought at the peak in 2022,  Just do your homework and be sure you can make your ROI before you enter this market.

The human race has historically been poor at predicting future, so it's wise to prepare for multiple scenarios.Mortgage rates in 2025 may decrease slightly if inflation stabilizes and the Federal Reserve eases rates, though they are unlikely to return to pre-pandemic lows.

Is there a way I can take on the current mortgage payments (at the low rate) and get a new mortgage to make up the difference between the existing mortgage and the current value?

Hi Joe,Using a Home Equity Line of Credit (HELOC) on your primary residence can be a practical and low-cost way to fund flips, especially since the terms you mentioned include only a $200 yearly fee.

A few showings, one low ball...but this time of year in that area, things just slow down. 

With good credit and a relatively low LTV, they may price comparably. 

In some very attractive markets like coastal cities I can see it being worth it not to rent the unit or rent it only under very limited circumstances in the low season because the high season is just too lucrative to allow anything to affect those bookings.

I did this in the MS market and while the advantages you pointed out were true.. markets that have slow appreciation and or areas where builders can keep building for low dollar amounts like the mid west.