As always, make sure to run the numbers carefully and factor in local property taxes and HOA fees, which can vary widely in North Texas.Delayed gratification is key in real estate investing, but with patience, the rewards can be life-changing.Best of luck with your search

If you can shorten the window on the cash out refinance to the next purchase/refinance the rate is not really a factor.

It's arguably the #1 most important factor to a listing, be it for leasing or selling.

It depends on a few factors: First, the fires.

And this low demand could be a couple of factors, either a rural location with low population density or the area incomes are not high enough in order to prevent a rent burdened scenario. 

Keep in mind, though, that each lender has their own criteria for how much future potential they’ll factor in, so it might come down to some skillful negotiation and presenting detailed projections that don’t feel like puffery.Just be careful not to come off as overly speculative…lenders tendd to shy away from what sounds too good to be true.Anyway, I’m curious.. have you spotted any other investors in Gainesville facing a similar refinance puzzle and what kind of terms were they able to secure? 

Speed of building a portfolio (Cash-on-Cash return is a factor here)?

ON THE OTHER SIDE, the liability and cost of fencing it in, as I would need to do, is a huge factor... 

And while yes, no one has the same pricing (combination of factors), I also continue to check on a regular basis our rankings and how we "present" on total costs per stay vs. our competitors.My gut says there is price creep and we might have a ways to go before the market really corrects.

@Dennis Bragg, how did you factor improvements and market appreciation into the buy-back price?