But the market is still pretty soft in the area, and I need around $165,000 in order to break even (5% commissions, closing and lawyer fees, plus paying off the 1st mortgage).I've tried and failed to refinance the property on multiple occasions, even through the HARP 2 program, but everyone keeps coming back with, you don't have a 75/25 LTV ratio, so we won't touch it.

Business for me has been EXTREMELY busy for the past 2 months.But as a whole, I'd say my market is a "soft buyer's".I currently own various real estate investments that I rent out (single family, duplex, 4-plex) that have worked well.

The CFPB has amended this provision to allow certain non-profit groups to continue extending interest-free, forgivable loans, also known as “soft seconds,” without regard to the 200-mortgage loan limit.Small servicer exemption expanded.

It sounds like it will be mainly for investing purposes - great, you may not need a conventional brokerage (KW, JSCott, Bain, Wind etc) Find one locally where investors are involved - not all agents (very few) understand investing.How to start: Run the hard numbers, grab a spreadsheet and call the brokerages - plug in the hard numbers and then quantify the soft differences (investor mindset, training options, brand advantages, CRM options?)

Also looked at student housing in my town but the university overbuilt and I think it's getting soft now so I am passing for now.  

For example does your "cap rate" include something for soft cost projections (vacancy, repairs), and if so how much?

Also, I am not sure about the soft/hard inquiry effect you would receive.I have also heard others that have had an emergency where they needed to take a (small) loan so they would take a loan for double the amount needed. 

Don’t forget all your soft costs this is going to cost you.

Any kind of market softness, I'm not sure how it would respond, but I would want to know what valuation downside is and make sure I had a capital expense budget.

In my area, it's 1/3, 1/3, 1/3.1/3 cost of the developed land (land with utilities and is ready to build)1/3 cost of constructing a dwelling1/3 soft costs and profit (financing, realtor commissions, closing costs, profit)You need to look at some of the vacant land builders have bought and built on recently.