This is much lower than the costs associated with refinancing.Benefits of Mortgage RecastingLower Monthly Payments: The most immediate benefit is a reduced monthly payment, which can free up cash for other financial goals.Save on Interest: By reducing your principal balance, you’ll pay less interest over the life of the loan, potentially saving thousands of dollars.No Credit Check or Appraisal: Unlike refinancing, recasting doesn’t require a credit check, income verification, or home appraisal, making it a quicker and simpler process.Keep Your Current Interest Rate: If you have a favorable interest rate on your current loan, recasting allows you to maintain it while still lowering your payments.Drawbacks of Mortgage RecastingRequires a Lump Sum: Not everyone has the cash on hand to make a significant lump sum payment, which can make recasting inaccessible for some homeowners.Doesn’t Shorten Loan Term: While your monthly payments are lower, recasting doesn’t reduce the length of your loan.

Consider balancing liability protection with administrative costs, and consult with a CPA to align your structure with your financial and legal goals.This post does not create a CPA-Client relationship.

Prioritize your financial stability.

Working with a CPA or financial planner can help optimize tax strategies and ensure the best approach for your goals.This post does not create a CPA-Client relationship.

There will be moments when challenges feel insurmountable—deals that fall apart, difficult contractors, financial struggles—but the only way to succeed is to persevere.

By the time I retire, I want to have enough rental properties to have financial independence to enjoy my hobbies and enjoy spending time with my family and watch my children grow up.

Because of that success, and the tourism of Santa Fe, I'm assuming a STR will likely out preform a LTR with modern amenities, design, etc in place.  

I wish I could say that I'm venturing into real estate investing for some benevolent purpose like providing low-income housing for the needy... but financial gain is certainly my angle lol.

I encourage you to define your financial goals, as real estate presents numerous possibilities.Building a strong foundation of knowledge and connections can significantly impact your success in real estate investing.

Modern is all dependent on the area.