Additionally, the costs of fixed rate seconds and HELOC's could come down from the double digits or make cash out refinances more feasible to tap equity for those with low first rate mortgage loans. 

Some may have to decrease a little on those double digit increases. 

I invest with my SDIRA and while it's a bit more hoops you jump through (you have to be arms length away from the transactions, can't use "disqualified" parties etc.) it's worthwhile if you're going to put it into real estate.

. $6969/mo10/1 ARM. 6.5%. $5056/moWe currently have a 15 year fixed on our primary home as we wanted to go into retirement debt free on the primary home.

I would think that the search impressions would go up at least a few digits.

Without running numbers, I think you are looking at an asset that makes 8-10% over the next several years with an upside in the 15-20% range if you see high single digit/double digit appreciation.

@Chris Seveney is right....you will likely pay way more than you planned to finish the project, but in my opinion, the most important thing to do is stop the bleeding by finishing or cut off the arm completely by selling the property.  

Think, the USDA brining armed feds to shut down Amish farmers for selling their unpasteurized milk, or the FDA allowing harmful chemical additives in our food that are banned in hundreds of other countries.

Chris Depalma It can appraise at a higher price because an appraiser will not view your purchase as a typical arms-length transaction because it is never exposed to the market.

My wife explained we had Arm & Hammer & were welcome to drop over for it.