I get what you are saying that hypothetically if you were to buy the land first it would require $330K to take down the land acquisition but it would create a very inefficient capital stack, diminish returns for LP and make the raise more challenging.

The purchase was structured to ensure both our partner and the seller benefited, allowing for a smooth and timely acquisition.

That rate might be justified if you were hiring a closer or someone in an acquisition role, but for cold calling alone, it’s definitely over the top.Thanks for sharing your insights—they highlight the importance of having clear systems and processes in place.

This would hopefully maintain strong cashflow from the property will providing some capital to use for the next property acquisition. 

Non-QM DSCR loans will allow you to refinance the property at the newly appraised value after 90 days from the original purchase IF you took a loan for the initial acquisition.

Make sure you know the value the ADU will add to the property before building the ADU. 2) the financing on an ADU is typically far worse than for initial investment property acquisition or is often not leveraged by the ADU (HELOC, cash out refi, etc).

Once we acquire the last 2 properties we will shift from acquisition to debt paydown.Paul I have to underline what you are saying, because this message needs to be heard. 

When I had located this particular duplex I contacted a local agent to represent me on the acquisition.

MTRs fall somewhere in between but still require furnishing and active tenant acquisition.

Given interest rate changes, property values, and lender requirements, I’m curious about:How were your acquisition and rehab costs compared to your ARV?