If you are having other investors to steer clear that might explain why the property is still on the market. 

I haven’t completely dismissed the possibility I can get into some great markets out of state, it’s just the unknown is so great about it, I haven’t given it a ton of thought. 

market rents/cost to aquire What was the outcome?

Rental market is pretty strong, there are a lot of good economic drivers.

What marketing efforts are they going to do outside of just posting in the MLS.

I was studying the market and my rent will be just enough to cover the mortgage and HOA fee now I might to pay out of pocket for insurance but don't want to sell it yet because the area is growing and might have good appreciation in the years that follow.

New builds-broke even in the '08 market on two spec homes, built my own home from the ground up twelve years ago(400k in equity). 

Im not expert but Ive took out a heloc and dragged on going on my advise and it suckedHi @Mario Morales, There are 2 things I would pay attention to in the scenario you describe. (1) Most cash out loans are limited to 75% -80% LTV meaning you wouldn't be able to get all of your cash back out. (2) The interest rates I see in the market are closer than what you've listed.

Study the market.

A business partner approached me about it, and I negotiated the deal based on CAP rate.