Newport argues for a clear bias towards the latter, saying, "Irrespective of what type of work you do, the craftsman mindset is crucial for building a career you love".Which Mindset do you ascribe to?

As for the renter, you really need to consider whether the numbers work irrespective of having a "ready tenant".

@Tim Morales Yes the HML would be a mortgage against the property (irrespective if it is recorded with the county or not) and it would be paid off by the refi loan.

This is good news for real estate investors irrespective of whether we like STR or not.

If it where all his own cash I assume the 5 points and 12% would be adequate irrespective of the length of the deal, as like you said he would be making most of his return on points.

Irrespective, just make sure you register with the Do Not Call Registry...

Not to mention the fact that depending on how bad things get, credit can dry up in the general sense, irrespective of the numbers on your particular deal.Sweet spot for me is 5-10 years fully amortized fixed rate (7-10 is harder to find but I've seen it before).

@Page Weil Cash-is-cash...so to speak...sounds like you are paying directly from the HELOC account...rather than taking the cash from the HELOC and dumping it in an unrelated checking account...irrespective, the lender will likely uncover where the funds came from in their due diligence.

My rant immediately above it irrespective of what type of work is being done.

Cap Rate assumes you paid cash for the property and is more commonly used when comparing one property versus another, irrespective of what your financing plans are.