With a 7% interest rate and high HOA fees, the key is evaluating if your skills and investments can generate higher returns elsewhere.

Should I price the land 2 times above market value and offer a low interest rateORPrice the land at current market and use a very high rate?

The barrier to entry seems high, and the price-to-rent ratio isn't very favorable.

I don't do this for a living and have no real world experience, but at 40% down, even with a 7% int rate, that seems like a high monthly payment.

Some high and lowlights:- I had one tenant that brought German cockroaches in and then blamed it on me- Same tenant asking if her daughter can visit but failed to mention it was 5 more very noisy people- another tenant having constant loud arguments with his gf- tenant saved some of my stuff when the house flooded due to a pipe burst and another time during a monster rain storm.

I have a template that I provide and they can either complete the template or just give me their documents and I'll complete the template before prepping the taxes.Self Managed, High Volume, Very Organized - these folks keep up on their activity. 

Even if you can find insurance now, premiums will likely remain high, and resale value could be impacted unless the wiring is updated.

To list a few...Anyone who wants to increase their property’s income potential (and equity) and build new housing in a market that struggles with high prices, low supply, and few new construction.House hackers who live in their primary and want to airbnb an ADU love this strategy or vice versaInvestors who want to do both long term and short term benefit from having two separate units.Rental Restrictions on ADUs.Thankfully, Raleigh is very STR friendly and ADU friendly right now.

here are just a few:-interest rates and prices both remain high. this has really hurt cash flow across the board.

I highly recommend them.