@Matt Smith generally speaking it’s a combination of rising interest rates which have caused cap rates to increase (thus wiping out equity), debt is resetting at higher rates, rising opex costs due to inflation and stagnant or softening of rents due to an increase of supply.

I know there are issues with financing manufactured homes, but I have a lot of equity.

But to date, I've just set my rents at a rate that accounts for me having to pay the water bill - and informed the residents that each year I'll increase the rent based upon my expenses (including water), so keeping the bill down helps me to help them.But one problem this could cause is if increasing the rent to cover the water bill then places your rent above the market rate.

With that amount of equity and being in CA I think you have a couple decent options1.

If the home was still your primary residence throughout 2024 and not actively listed for rent, it would typically remain classified as a personal residence until the lease began.

Good cash flow and equity upon completion.

Hi JoseIt sounds like you're trying to take advantage of favorable terms, but lenders often differentiate between primary residences, second homes, and investment properties.

Investment Info:Single-family residence buy & hold investment.

This is the structure we were looking at which is more of a subsidiary structure and this applies to raw land development: 📌 Structuring Plan1️⃣ Set up a QOF to raise capital from investors.2️⃣ Create a QOZB to handle hotel & parking development (each separate land parcels).3️⃣ QOF owns the land & funds QOZB for development.4️⃣ Raise capital through QOF equity, bank loans, or JV partners.5️⃣ Develop the projects & operate for 10+ years for tax-free gains.

Quote from @Nicholas Burch: What are the best terms to negotiate on the banknote after you have raised your target equity?