Some will cost more than expected, some less.If you are worried your calculations are too conservative, add 25%, 50%, or double them.

My guess is you had the money to put down if you needed too but you were trying to conserve cash.

I use debt but in a very conservative way.  

It seems unlikely that this will continue into perpetuity and let's say a more conservative estimate is 3% annually, which would equate to about $6K annually in appreciation. 

So all in I am at $240,300 , hard money I am factoring in as 15% rate and since I’m borrowing 840k for let’s say 6 months , I’m factoring in hard money costs at 63k for 6 months So now all in I’m at $303,300 ARV should be at least $1.3 million (conservatively) I would cash out refi with a dscr loan and get back 975k , I would pay the $840k I owe to the hard money lenders , leaving me with 135k , and I would pay myself back with that money , and since I would have $303,300 invested , I would pay back 135k to myself leaving me with $168k invested in the house with a equity position of $325k , the actual house number are such after the cash out refinance: This house has 2 units and 3 accessory units Mortgage : $7100Heloc payment : $1300Total = $8400Live in 1st floor Rental income 2nd floor : $30003rd floor: $1500Accessory unit 1 :1200Accessory unit 2 $1200Income : $6900 Net : negative $1200I also already have a house that’s breaking even , but I’m living in one unit and if I move out that house would become positive $1500 which I can put toward the payment of one of the other houses .

Their underwriting has also become more conservative and cautious.

My cost to operate using their current expenditures (which I have intentions to reduce) would be at $400,000 conservatively. 

The danger of signing up with promoters of a tax strategy.A lot of times, you hear about a specific tax strategy (REPS, STRs, syndications, 1031s, DSTs, conservation easements, and so on) from promoters who target a specific group of people.

Hi Ramdi,Great to see you're exploring private money lending as a financing option→ it's a smart move, especially if you're looking to scale while conserving your own capital.

Many landlords on this forum miss this - they often tend to be conservative in their political values - conservative policies, in that sense that they are "landlord friendly" also tend to go hand in hand with policies that make adding new supply easy.