Lower interest rate at 12% is $8,400 year ($42K for 5 years) plus his initial investment of $70K equals $112K.

Based on what you've told us, your rate should be at prime (7.5%), unless you are over 80% LTV, then it would be prime +1.Jeff

@Kyle Carter My top recommendation is to begin by contacting property management companies in each target area.

With your brother’s $50K equity already in the property, this should make the loan-to-value ratio favorable for refinancing.HELOC monthly payment on $68K: ~$300 (depends on your rate and term).Lease payment from brother: $800/month.Future mortgage (refinance $68K over 30 years at 6%): ~$400/month

Nobody wants to be around people like this, so I’ve had to lower my rent drastically and have a high turnover rate here.

Memphis is a market where BRRRR is possible, but with rates going up again, it's not a great idea.

If I accept the suggested pricing opportunities it could drop my rates by $100 / night in some cases. 

I have a few names if you need a contact. 

If you have any other questions, contact me at any time. 

I have made some promising contacts since posting my last couple posts.