While the 4% mortgage is great, your 1M in dead equity isn't giving you a great return.

Here’s the situation:Purchase Price: $540,000Down Payment: 20%Mortgage Rate: 7.125% (30-year fixed)Monthly Expenses (Mortgage, HOA, Taxes, Insurance): $3,706Realistic Max Rent: $3,000As you can see, I’m currently short $706/month even with max rent.

However, rates have since moved upward.A 30-year fixed rate mortgage is once again sitting around 7% interest:For broader context, here’s a chart for 30-year fixed mortgage rates over the past 5 years:The real estate industry hoped 2024 would see a recovery in which mortgage rates fell and home sales climbed.

A classic example is Vestin Mortgage back about 15 - 20 years ago.

Four properties were existing STR's that had a permit 'transfer' and the other half were eligible properties that successfully launched with astounding success.

As a first timer with no existing properties and no experience do you recommend looking into long distance investments and managing thing remotely? 

Read your mortgage paperwork for the due on sale clause. 

I am wondering whether they are requesting the Court to repay the first mortgage although the auction stated it was subject to the first mortgage. 

Conventional owner-occupied mortgage rates are above 7% today (source: Mortgage News Daily - Mortgage And Real Estate News).

Could it be considered piercing the corporate veil if the mortgage for the property is in your personal name but the deed is in the name of the LLC?