For them, it's truly the old-school idea of a second home. 

I was also getting credit card balance transfer offers at 0% promotional rates for a year to a year and a half and I started transferring my HELOC balances to the promotional credit cards.

You don't want to lose your rate on the house you are living in now unless you want to sell it so since that is an owner-occupied, you need to stay there and save up the 20 percent for the second property based on what you said.

Investors should keep an eye on its growing infrastructure and amenities.Huntersville: A family-friendly suburb with excellent schools and amenities, Huntersville is a solid choice for long-term appreciation.Davidson: A charming college town, Davidson offers steady appreciation and attracts higher-income tenants.Belmont: This small town near Charlotte offers more appreciation potential than cash flow, driven by its desirability and quaint atmosphere.Neighborhoods Offering Both Cash Flow & AppreciationConcord: A tricky yet rewarding market, Concord can provide both cash flow and appreciation.

I was considering the hard money lender route but got slightly overwhelmed because of the different options, rates and not knowing how to properly vet them.

@Jordan Miller most Class A & B rental properties bought since 2021 really don't cashflow from day one.Class B will take 1-3 years to start showing cashflow.Class A, 3-5 years.Current investors keep making the mistake of looking back at deals from 5-10 years ago when prices & interest rates were both a lot lower, but NOT rental rates.

However, prices on $1M homes haven't really appreciated all that much and we are looking to move to something much smaller near where our kids go to school. 

We are also seeing an increase due to the lower interest rate debt out there in a higher interest rate environment. 

With those kinds of rents ($5,800 between the 2), even with a 9% cap rate, in my opinion those properties should collectively appraise for nearly $500k.

If what we are feeling is accurate, the January data should show substantial increase in buyer demand.Jan 1, 2020 to Jan 1, 2025 InventoryWhile interest rates remain high, the demand from buyers is still strong.