my understanding is that you can pay back in full at any time before payoff with no penalty.

Look into local tax incentives and financing options, and reach out to local real estate groups or mentors to better understand the market.Good luck!

And I understand that there is a person here on BP that started a meetup for St Joe, but I have not seen them posting it lately..

Yes I understand what you are noting, and I believe on the commercial side of things they are typically not putting their names on the docs like you do for a resi loan but just brokering/underwriting it and collecting a fee as a 1099.

I read through them and ensure understanding with many tenants before signing.

We don't reach that point until we have had the opportunity to understand what an investor wants, their motivations, long-term goals, and risk profile.  

I don't even mind paying ridiculous interest rates as I understand this is a big ask.

I can totally understand they were overworked and understaffed, and as a result, mistakes were made.

The bigger thing is understanding that pre-approvals give you a ballpark, but your actual rate gets locked only when you have a signed contract.

Your goal of acquiring your first single-family rental by early 2025 is both ambitious and exciting.A few thoughts as you navigate this market:• Local Insight: Since regional nuances can make a big difference, tapping into local brokers and contractors who understand the Hudson Valley and Catskills can provide a valuable edge when evaluating properties.• Creative Financing: Keep an open mind to creative financing strategies; sometimes thinking outside the traditional box can reveal opportunities others might overlook.On a related note, I help investors streamline their operations by generating quality leads and assisting with VA hiring, which might be useful as you build your team and network in the area.Looking forward to seeing your progress and sharing insights along the way.