Consider house hacking when rates and prices are a little more balanced with reality.

Bought house in 2020, so instant cash flow given the low rate and price.

Here is some key information:Property recently hit the market and has 2 cash offers alreadyThe seller provided a pre-inspection report, which I shared with 2 different lenders, both think it may fail conventional financing due to potential structural and electrical issues (realtor thinks it could pass conventional)Seller has 100% equity but is behind on other payments (not sure of the urgency money is needed)This is my first attempt at an “investment” property so I’m new to thisI see 3 optionsMove forward with an offer using conventional loan pre-qualification-Not as attractive of an offer to the seller-Possibility that appraiser calls out structural/electrical issues that need to be fixed before closing, effectively causing financing to fail- Best terms and fewest loan fees for meUse a rehab style loan such as ChoiceRenovation-Even less attractive than a conventional offer to seller, but less risk of failed financing if appraiser calls out issues-Slightly worse fees and interest rates compared to conventional-Lenders tell me possibly up to 60-90 days closing in some cases, with red-tape for contractor requirements and draw schedules (sounds like the most hoops to jump through during rehab)Use a hard money lender-Most attractive loan option I can give to seller so I can compete-Much higher fees and interest rate for me-need to refinance into a conventional at the end of rehab (not familiar with seasoning periods but I think this is a factor as well)Which option would you do?

Don’t shop for interest rates.  4.  

@Mike Donovan I would recommend finding a local insurance broker to get the best rate to fit your needs.  

Also with the more normal interest rates, the financing deals from 10 years ago don't exist anymore.

For crowdsource investments on Republic, StartEngine, etc there's a great resource called Kingscrowd that reviews each investment offering and gives details and ratings on the team behind the project.

@Jonathan Small government actions have led to an unprecedented 40% increase in the money supply, 50-year record inflation, record increase in interest rates, bank failures, credit tightening, CRE recession, housing affordability issues, mobility issues, inventory issues, and massive impacts to the world economies, every investment class, and our families, kids, and friends like never before. 

They are locked in with a 6% interest rate on a property that we went above asking price on.

Option 1: The loan that the owner has is an assumable loan at a 3.875% rate and still has about $265K.