What made you interested in investing in this type of deal?

Purchase price: $410,000 I bought this property during COVID-19 when everyone was running away from buying rental units.

Glad to have you as part of this community, Ben! 

Seems to me you might be better off structuring this as a purchase immediately with immediate transfer of title with a 300K down payment.

This isn't as hard-lined as many people think.

You have to start there because the only thing you can use is what's known.

My first deal was a house hack and when you combine rent savings, appreciation, loan paydown, tax savings, and in this case even cash flow, my internal rate of return (sorta like ROI but more detailed) was almost 300% annually.

And the good news is, this is a much more normal pace – a welcome sign for hopeful buyers (see graph below):What This Means for YouWhile it’s tempting to wait it out for prices or mortgage rates to decline before you buy, here’s what you’ll need to consider if you do.Tomorrow’s home prices will be higher than today’s.

This will clarify and reinforce what you are reading.

I'm willing to help this person in any way I can.