Low down payment (3.5%) is attractive, but comes with mortgage insurance and might not offer the best rates.

For structuring your business, consider whether you actually need an LLC or if umbrella insurance might be a simpler alternative.

Quote from @Sri Reddy: We are a team who are venturing in to constructing a multifamily unit from groundup.We don't have any prior experience in construction and are looking for financing loan options.

Question: Should I collateralize the loan (if using private or hard money), or rely on roll-over loans (to maximize the lower points and 3-4% rate)?

If I paid cash for this property, the HOA + Insurance + taxes is around $500 / month. 

I bought a 3/2.00 home in Tampa, FL in April 2022 for $245k at a 4.75% interest rate, I still owe $210K on the loan, my RE agent thinks it could sell for $280k ($70k in equity).

@Muriel Hair here's some articles about Detroit increasing over 20% in 2024...https://detroitmi.gov/news/detroit-home-values-increased-ave...https://www.cbsnews.com/detroit/news/detroit-home-prices-amo...https://www.detroitnews.com/story/news/local/detroit-city/20...

Quote from @Cody Caswell: Quote from @Jay Hurst: Quote from @Cody Caswell: Is it true you can use taxes, depreciation, insurance, and mortgage interest for qualifying income when applying for an FHA loan on a primary residence? 

Yes, you can “save” interest by paying off a loan faster - SO WHAT?  

The deal will leave the seller at your sons mercy for decades (the life of the loan).