In general It sounds like a low enough LTV that it could even qualify for an instant issue and AVM (no apprisal.)

Instant online approvals.. 

On a positive there are 15-20-30 year amortizations and increasing income qualifications including instant approval and AVM (no appraisal requirements) for very clean applicants, and creative documentation for self-employed borrowers or investors such as bank statements or even DSCR (usually up to 75%LTV) for investment properties. 

Investing in class D areas may feel like instant (cash flow) gratification, but will not get you very far.

I have it and I don't really buy direct from homeowners I just like it because its so cool.. and I can instantly see who owns what ... etc etc.and its like 50.00 a month for gosh sakes does not get better than that. 

App_mode=Displ...Also, our Governor Ron DeSantis just passed a "Squatter law" which always a homeowner to reclaim their property INSTANTLY under these terms The individual has unlawfully entered and remains on the property;The individual has been directed to leave the property by the owner but has not done so; andThe individual is not a current or former tenant in a legal dispute.First in the Nation to do so.Link to squatter article - https://www.flgov.com/2024/03/27/governor-desantis-signs-leg...Let me know if you have any questions about FL or plan on investing in the Sunshine State!

I have found time is better spent building tools to quickly analyze & procure new deals, rather than hyper-analyzing the metrics of one deal, ultimately making initial review faster & more reliable (spend time on the things that make sense, quickly remove things that don't, even junior-level staff can identify good opportunities with the tools, etc).For example, if I'm modeling a SFR to 3-4 unit scheme, I can quickly check the $/sf/mo for each of my proposed units and get a good idea of the GOI without having to manually dig through &  find rent comps in that City/Zip:- So instantly I know in Woodland Hills that a Studio is close to $5/sf/mo on avg, 1 Bedroom closer to $4/sf/mo, with the 2 & 3 Bedrooms closer to $3/sf/mo.

Once 6-12 months have passed, depending upon the loan program, you should be able to refinance it to bleed some of the "instant equity" out.

It's the instant gratification thing.

I have a $385,000 "note" that I owe $300,000 on for an instant equity of $85,000.