Apparently Congress is floating the definition of a primary residence as 5 years.

We do not need it to produce massive cashflow like many investors are after, because our LTR's produce enough cashflow to help float the portfolio.    

Even though we are looking for some type of "float" to the other property with enough cushion we are confident we can sell our NM property to fully pay the loan back, we do expect to do other real estate deals and to also move to the lending side as well.

Hence why I say, "the only ship that don't float, is a partnership!!"

The problem is that the project is over budget: I'm going to end up needing $300k rehab funds, and I don't have the additional $100k to float until refinance. 

Unfortunately, real estate is often messy so I can't say I'm too surprised, so I'll do what I can to talk through each thing.The rate float is not uncommon, as we've seen the 10 year treasury fluctuate a bit the last month or so, so I wouldn't be surprised if they had originally quoted something (guessing low 7s?)

Insurance rates and tax increase combined with lower nightly bookings is making it tougher to get them to float, it's also chewing down on proffits.

Get my drift?

Getting into a syndication now, there is a possibility of a larger market correction coming soon due to rates staying higher longer and all the floating rate loans that were placed in 2021 and 2022.  

I definitely did not think of leveraging no interest credit at Home Depot to float the 3-4 months I need to cover the remodel.