BUT, it's an appreciation play. 

A prominent MLO in the northeast was recently charged and stripped of his license for playing this game with his borrowers.Also, everything is reviewed by underwriting.

People like new homes- It is easier for me to identify with which homes will be more marketable in the future yearsCons- Cash flow usually isn't as good (which is ok with me, because it is always an equity play for us).  

nice job I grew up flipping land I love that play still fund land flippers to this day is a niche of lending that I have carved out.. 

I'm with a broker-dealer based out of Chicago and we have a marketplace for private commercial real estate projects and funds all over the US.Aside from work, I'm into playing sports (primarily soccer), coffee, mezcal (lived in Mexico City for 5 years), and exploring mountains.

Is this the best play here?

Not sure if you were looking for a long-term hold on a two family, but it seems that was not playing out favorably for you. 

If they had not found the deal or participated at all, you would not owe them anything since it was off-market and they didn't play a role. 

If you cant turn a decent profit on a monthly basis, it's not a great long term play and you should sell the property.  

House may continue to appreciate.Cons: Not sure how the revenue plays against social security, Medicare & taxes.