For this reason, it would be prudent to not overleverage yourself in this type of environment in order to wait and see where rates do end up falling, as there is consensus in the market we are moving into a falling rate environment, the exact timing of when rates will be falling is unknown and different scenario analysis should be added to underwriting refinance periods to be sure the project is sustainable if inflation resurges and a refinance is delayed.

I also took this entire section, and fed it to both ChatGPT and Google' Gemini's AIs to see if the calculations seemed correct.

You'll have access to owner occupied loan products, therefore saving on your down payment, typically 3-5% compared to 20-25% for non owner occupied properties.

Its simple in practice, however you need to make sure the numbers work.

Easy access to the Shore Acres recreation center and the new middle school.A short drive to the new Whole Foods and the 4th Street corridor.

In North Jersey, buying is difficult from my beginner perspective with high prices, property tax, etc.Barrier to entry feels high in my area.

When an appraiser is adjusting a comp to match the subject property, he or she will use an adjustment based on the difference in square footage.

The key to this is finding a HML that doesn't require access to the property for an appraisal.

Can you get access to the property in advance to verify the condition? 

Quote from @Heather Luu: This brings me to another question.