I'm a guy approaching middle-age, living in Chicago.

Greetings BP community, I recently joined a national senior care living development team.

Let’s break this down:The case for holdingThe 4.75% interest rate is a valuable asset in today’s high-rate environment.

If it's just slapped in the backyard, i'd imagine it may not make a big difference but if you create an environment around it, it could be different.   

I too live in Asheville, so Sapphire was closer than Cashiers and Highlands.

Quote from @Andrew Steffens: I think going into an STR purchase with reasonable expectations of cashflow in this current market and rate environment is admirable. 

It's actually harder if you are currently living in the property, want to cash out, and then have it as a rental as you haven't proven to the bank that the property will cash flow $600 a month on top of the NEW mortgage costs. 1.

It is my understanding that people refinance and then use those funds other ways (personal living, investing, some to buy another property) as a means to minimize tax obligation. 

I've had smooth loans close with Kiavi and I've had rough ones, same with Roc.When Loans start to be troublesome:1) The borrowing entity docs are a mess2) The appraisal numbers are lower than expected3) Messy background reports4) Loans happening in an environment where market/rate fluctuating unpredictably 5) Your loan officer and their team are poor at their job6) Title issues that depend on county docs, that can be slow and painfulThere's more but it's Friday and I'm tired....

I'm a Realtor with a couple properties listed in Boise, ID and a neighboring town for my investor/client that are currently rented as co-living or rent-by-the-room and getting killer income. (7.3% - 9.5% Cap rate) So far, every inquiry has been baffled by the concept of co-living or rent-by-the-room and immediately ask if they're being run as a halfway-house (which they are not).