The area has seen growth in both the residential and rental markets, making it a potentially lucrative investment.For financing, you can explore options like conventional loans, FHA loans (for owner-occupied properties), or even local programs that might offer lower down payments for investment properties.

I pulled $35K from my wife's roth IRA principle and took out a $50K 401K loan for the remaining down payment. 

I couldn't save enough money for a down payment on my first real estate investment. 

I'm okay with a high interest rate up to 15% because I can still breakeven on the mortgage but not sure how to finance this deal without losing my initial payments

And when does the 10% interest payment on these funds begin?  

The carrying costs are low, but tenant was making partial payments by month 2.

Then you will take over the payments.

How much debt do you have on your home at this point and what is your monthly mortgage & HELOC payment?

We over hauled our stuff in 2025 year, and got our tenants making payments via the app.

One challenge to manage is being able to clarify for lenders on those rentals (if you have them) which amount of the premium should be paid for each rental so that they do not include the entire premium into their escrow analysis, inflating your monthly payment on that rental.