Hey @Adriana McLaughlin - This is actually the FIRST TIME I have heard of the term "ALL-IN-ONE-FIRST-LIEN", but after doing a little bit of reading on it I am not sure I still completely understand.Basically, you apply for a HELOC credit payoff your existing mortgage with this variable HELOC and then in theory have some leftover as well...so the advantage is paying off your loan early and getting access to a line of credit, but the disadvantage would be a variable rate mortgage for the reminder due on your orginal first mortgage? 

Learn as much as possible about the existing tenant from the current Landlord/Owner. 

The way we counter those numbers to make it a great deal in Phoenix is to buy off market and take over the existing 3% financing.

First floor and the existing bedrooms were just updated with new paint and faux paneling.

Networking events, BP, and your existing network can all be great sources for partnerships. 

While opinions may vary, I rely on data to help drive real estate decisions and planning.Key ConsiderationsEducational Attainment: 77008 boasts higher numbers of residents with bachelor's (12,241) and master's degrees (5,739) compared to 77063.Demographics: 77063 has a higher percentage of foreign-born residents (41.02%) which typically indicates a strong rental market and with 76.86% renter-occupied versus 32.60% in 77008.Economic Factors: Median income in 77008 is $140,609 with a low unemployment rate of 3.37%, whereas 77063 shows lower median income ($51,899), higher unemployment (9.99%), and more families below the poverty level (16.51%), which may indicate economic diversity but also potential rental payment risks​​.Age Distribution: 77008 has more middle-aged residents (35-54) [8970 compared to 6,115] and a slightly higher proportion of young adults (25-34) compared to 77063 but both are popular with younger adults suggesting strong rental markets equally exist.

If there are enough hold outs, new construction may become non existent and it may just be a few years of poorer performance.

I think you could even add some of that style to an existing cabin.

If the business life cycle cannot be survived, deflation will exist and that is the worst outcome. 

Start with this 2012 post by Joshua Dorkens stating there are 28.1 Million "Real Estate Investors" in the US. Bigger pockets post
According to Biggerpockets stats https://www.biggerpockets.com/stats , over 1000+ new ...