Hard to say if it’s a good deal without the most important piece of data, what is the fair market value? 

I’m new to REI and plan to invest locally in the Houston market.

I also wouldnt let your mom go into 2nd position on an investment property with any sort of restructuring; it doenst sound like she's in a position to risk being wiped out.Overall, though, if you want cashflow on the new property but cant achieve that after a refi into a market rate loan, it probably makes more sense to just flip it, pay off your heloc and your mom, and use the remaining capital for the next deal.

Nice to spot your introduction.. what's the biggest hurdle you're seeing in today's market?

Quote from @Lorraine Hadden: As we close out 2024 and look forward to 2025, NAR released its 2025 list of top performers in 10 metro markets.

Send me a PM and I'll send you a couple of examples of what is on the market outside of Atlanta so you can run your numbers and see if that fits.

If we can complete projects faster, we increase IRR and build trust.3) Market Risk- The longer it takes to complete a project, the more exposed you are to market fluctuations.This goes for all things Real Estate - BRRRRs, Flips, New Builds, Rehabs, etc.Real Estate is a wild ride I feel your pain, I've had this happen many times where the project is twice as long.

To start your journey, I recommend focusing on building your network by joining meetups and engaging in online forums, while narrowing down your first investment based on your budget, market, and goals.

Even if you have a higher return in the stock market, you'd be doing it with a lower basis after tax and it will take a long while to recoup from that. 

Bought undervalued (market value of 265k); refinanced about 1 year later to contribute to next property purchase.