Quote from @Patrick Roberts: Angel oak and A&D mortgage are two of the bigger lenders that I know of who will do 2nd's on investment properties as of a few months ago.

I also am very interested in purchasing more STRs, and this is a really low risk way to see if I'm up for it (we have a 2.9% interest rate on our mortgage).My biggest concern is an ongoing plumbing issue we have had.

There are monthly mortgage, taxes, HOA dues and insurance expenses each month, however this still generates great cash flow every month.

There is an offer to buy but if I include everything I've spent over the years, mortgage P&I, taxes, insurance, HOA, and recent repairs, I will just break even.

The biggest challenge continues to be affordability, as mortgage rates remain high and inventory remains tight in many regions.The 10-year Treasury yield has risen to 4.64%, which has kept mortgage rates elevated, currently hovering in the 6.5% to 7% range.

Also, the rate the fed is always adjusting isn't the mortgage rate only something that influences it.

Based on what my real estate agent thinks that this quote will be, roughly, and the after repair value, it looks like I could buy this property in cash, spend a month or two fixing the damage, and then put a mortgage for roughly 1.6x what I paid for it and thus have a cash flowing property at a few hundred dollars per month and a little more money in my bank account ready for a down payment on the next deal.

You can also check with credit unions specializing in real estate financing or work with a mortgage broker who may have connections with lenders familiar with land trusts.

Keeping your current townhouse rented enables tenants to continue paying down the mortgage while you scale.2.

That will most probably be offset by an increase in new mortgage costs and increased rates.