However I did note that houses are mostly really old, e.g. 100 years or older... any idea if this poses challenges in things like lead paint presence, outdated wiring, rusty plumbing, etc., or have many of the homes already been updated?   

This will have a 3/5/7 year balloon and terms get revised. 

I am a 19 year old that is just getting started in the real estate investing game!

Likely more to invest, cause returns aren't going to be 10% year over year. 

I spent 2.5 years getting all the utilities to the property.

Do you plan to scale this year and if so what type of properties will you be targeting?

Quote from @Anthony Sigala: Quote from @Jaycee Greene: Quote from @Anthony Sigala: I am seeking a loan on a LTR that has a rent to value of 1.3% with the potential of 2%. 30 year amortization or interest only.

The local who lives there but commutes 30-60 min to another community because they can’t find a job to support their family in their town.That same local knows that a 4plex would be great on that lot that’s been vacant for 20 years and that there are at least 4 families who could benefit greatly from that development.That local knows that Ryan’s plumbing and Katie’s electrical companies that service 75% of the town really needs a new flex space to use as a shop, storage, and parking for their business so that they aren’t working out of their garage and can hire a couple of locals to work with them at the office and in the field.Development is different in our small towns but if locals aren’t the ones doing it, and developers aren’t coming, what happens to our kids futures?

By year's end, the inventory flattened out considerably.Property values, however, kept soaring in 2024.

Unless you are unknowledgable, my bet is you could make more from rent than sale, and still have the benefits of owning the original home while you go do something else.The 25K you have left in property will be netting you(gross) of $350 mo or 4200 per year.