Purchase price: $515,000 Cash invested: $960,000 Sale price: $1,850,000 New Construction development, What made you interested in investing in this type of deal?

@Vinny Muli Great question.

Not so much ;)So now investors are feeling the weight of dog properties…be it higher interest rates, non paying tenants, property values falling, government intervention (especially in CA), etc.

Probably need a full time manager, but not really big enough to do that unless the rates are super luxury I would think. 

Low or no down, seller financing and low or no interest with a balloon payment later is the holy grail (location, building condition, market also matter but it sounds like you have all that).

For further context, we are trying to have him be the name on the loan because he would be able to utilize his first time home buyer loan to take advantage of the lowered offered interest rate.

As you mention, if you are using hard money yes you are paying more in interest and if you hvae the cash I would recommend using cash over hard money due to the high interest rate that you are paying.

These markets offer a great mix of affordability, strong rental demand, and steady appreciation.

If you can get your direct deposit moved against your heloc right away, and then you do not have to pay bills instantly, you are leaving your idol funds offsetting a 7.5-8.5% interest rate.

There are plenty out there with fair rates and lower fees.