If you’re ever looking to leverage financing for future projects, whether for flips or buy-and-hold deals, feel free to reach out!

I don’t think this is the borrower homestead since the records have a different owner address than the physical address.This is confusing because we aren’t buying a foreclosed property, we would be foreclosing to take possession.

I have been looking into Legacy Homes.What size or type home did you buy?

I'm about to buy and remodel a property 1 mile from a Mayo Clinic. 

I would disagree with number 2 - in this environment, heavy rate buydowns are a common tool in the toolkit for lenders and borrowers to make deals work and are in no way indicative of "not being well-capitalized"That’s a fair point in regards to doing a buy down, we see that quite often but we roll the buy down into the loan so those aren’t paid at closing, thus not costing the borrower funds out of pocket at the time of purchase or refinance. 

We really "NEED" to buy in this town, but since we operate in a radius we can offset with other market areas.

I'm thinking that I need to buy soon while it's a buyer's market and refi when rates go down - am I thinking about this the right way?

If you can finance an entire deal that way, it does give you the potential to buy out the preferred equity and own the entire deal yourself within maybe 3 years.I think preferred equity is easier to raise in today's climate. 

I've got nothing to contribute for STR advice, but I'm curious what town you're looking to buy in.

My partner and I buy and rehab properties, then refi and hold long term (BRRRR).