You lock in your interest rate and if rates drop you can prepay at any time and refinance at a lower rate without penalty.If the deal is commercial, whether commercial multifamily (5+ units), office, industrial, self storage, hotel, you name it...the choice becomes far more difficult. 

1) 20% down will allow you to do a conventional investment loan, but you will have to either:- Qualify with the new payment + your current payment- Lease the property out, allowing the lender to use 75% of the monthly rent to offset the mortgage (confirm with a lender).2) You could also do a DSR 20% down loan, but the interest rate will be much higher than conforming rates.3) If less than 20% down, you could:- Do a 10% 2nd home loan as long as the new property is at least 50 miles from your current home or near a qualifying vacation spot (confirm with a lender).- Do a 5% down conventional mortgage if you plan to rent out current home and live in the new one for at least 12 months.

This issue gets compounded since many investors don't know how to spot an unrealistic bid.

Been looking around North Conway its one of my other favorite spots to visit each year cozy little town with a lot of local amenities.

I think you're in a great spot and are asking the right questions.

There are some good food spots around here.

Through a client and a lot of research and connections through my Personal Training Industry How did you finance this deal?

@Mike LambertAs the hospitality industry is revitalizing from COVID, hotels are back to the increased occupancy rates.

Other hot spots I am sure you will hear about are Florida, NC, Texas, Indy to name a few.

If you’re looking to invest in your backyard, it helps to network with as many locals in the industry as you can.