The high-interest environment without (what we thought would be) a positively correlated cap rate has certainly messed up our traditional thinking.A few years back I wouldn't have touched a class-B/C multi-family for under a 7.5% cap and 20% down with 25% amortization at a ridiculously low rate. 

Fairborn, which is maybe a B or a C class neighborhood, is home to Wright Patterson Air Force Base so lots of potential for military families and single Airmen/Guardians moving off base.

Plan B is that if I'm unable to refi, I'll sell off my only SFR and then I can pay off over 60% of the credit card debt and then I'll try again to refi.

The other thing to note is that if you are not confident enough in the deal that you would put up your own house, then it may: A) not be a good deal at all or B) you might consider partnering with someone that has more experience Nobody likes foreclosing on someone's personal residence.

rew B.: Your post is confusing because an HOA cannot make a modification to a common element and then charge 1 owner for that *UNLESS* that owner or their tenants damaged the property to begin with.

At best you may get luck and get a Class B tenant.So, perhaps your expectations will never be met, thus you should sell and invest in Class A or B rentals.Otherwise, real estate is a long-term game and hold your course.

Tenants in B+ to A- class neighborhoods tend to stay for longer durations compared to those in C class neighborhoods.

@Kirk Garner here's our standard copy & paste food for thought:).Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.

In the future, a) get a super detailed Scope Of Work and ironclad Contract. b) Do not pay more money as a progress payment than the amount of work that has been performed, that way you are never ahead of the Contr or vice versa.Your options (depending on how much he owes you) are Small Claims Court, the State Registrar of Contrs, and possibly the local DAs office or State AG if the amount is higher ($50k ish)Good luck, let us know what happens.

@Cosmas Paulosi we've posted this hundreds of times, because it's very logical:)Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.So, when investing in areas they don’t really know, investors should research the different property Class submarkets.