The land is on two tax lots so my plan is to sell the extra lot immediately after closing for a projected $275K.The property on the other lot will be a fix and flip with projected costs of $240K and an ARV of $750K.I plan to use a PML of 2 points and 12% APY for 70% of the total cost.

Quote from @John Underwood: Are you sure it's not $600 extra per year?

As Hai mentioned in BC there are a couple of extra things to factor in if your parents sell it to you-the capital gains, foreign buyer's tax AND the property transfer tax all apply in BC and the middle one is not cheap (an extra 15%). 

Here’s some context: Property 1: >$100k in EquityValue: $325kDebt: $220k @ 2.88% (30-year fixed)Property 2: >$70k in EquityValue: $325kDebt: $252k @ 3.38% (30-year fixed)Extra considerations: - I have $15-20k liquid to use for any of these deals- My current job is relatively stable, but not high-payin- Current properties in TX, living in NY, looking to invest in Mid-West (crazy, I know)- No other debt obligations besides the two mortgagesUltimate goal/timeline: Though a bit ambitious, I’d love to build up the portfolio to 10-20 units in the next two yearsI understand that any/all replies aren't financial advice; all ideas welcome for information purposes. 

But that extra $100k beyond that....depends on what you used those funds for. 

Adding extra income streams, like charging for utilities or offering laundry services, can also help improve cash flow.

Be prepared to provide extra documentation, as the lender will need clear collateral and legal rights in case of default.

I am under contract on a property that looks like it will not close.When I got the 3 fireplaces inspected, it was only a few hundred dollars extra to chimney sweep them at the time of inspection so we paid to get them swept. 

That said, with today's rates, every increment of extra mortgage is way costlier than it was four years ago during the sub-3%-rate Covid days. 

-My fiancée and I are planning on having our first kid by the beginning of 2026, so extra room would be ideal as we are somewhat limited in the primary residence.