We are paying $300k for the land and as a builder my costs are lower but let’s use retail so it’s safe. 900k build so a grand total of $1.2milIf you put 20% down and refinance in a year from now at 5.9 (realistic to me) that would be $24k net after taxes, 7% put for capex and repairs(it’s new), and insurance.

@Alex Lickenbrock If your young family needs schools and you don't want to pay for private, you may want to consider the suburbs (and there is a range of school/suburb quality as well). 

We were able to refi and pay private lender back, but no cash was able to be pulled out. 

That niche can pay off big.You’re on a solid path, Bryant.

Is it for marketing, paying a PM to re-lease it, or something else?

Thats why I pay for coaching and mentoring.

Hey Ralph, unless you refi and pay points chances are refinancing does not make sense. 

It can pay well and you learn from people with years of experience.To be honest, a lot of this is just spreadsheets and gut feelings.

P.S. he did post the numbers of what the current renters are paying.

The tenants are paying 150 dollars less per month then an average 2 bed 1 bath apartment rents out.