With time as your main deployable resource right now though, take that time to learn as much as you can until you find a path that sounds both realistically achievable with your current resources, as well as something that sounds interesting to you.I'm always happy to connect with other investor folks around the Twin Cities, so feel free to shoot me a message on here if you want to chat directly! 

Basically I see that you have paid closing costs twice to take a property you own and in the end still own it now with a 135K mortgage.

Your friend will have a difficult time with rentals because he's not screening the applicants or enforcing the lease well enough. 

If you need assistance with financing or strategies to scale further, feel free to reach out.

There’s definitely been some learning about the cost of schedule slip.

Building housing is subject to a significant array of regulatory costs, including a broad range of fees, permits, reviews, and other requirements imposed at different stages of the development and the construction process, with both a direct cost and a time/delay cost.

Cost-benefit analysis needs to be done.

My advice is to get other quotes and possibly pull the loan from that bank before it costs you too much money.Feel free to reach out via message or email I would be happy to help and take a look at your LE and go over why they reduced LTV and if you can get back to 75% or 80%.

As a lender who specializes in financing for real estate investors, I understand the unique needs of the BRRRR strategy and can offer tailored solutions to fit your goals.Here’s how I can support you:Flexible Financing Options: Various loan products designed specifically for investors like you, allowing for quick access to funds for purchases and renovations without the stringent requirements of traditional lenders.Experience with BRRRR: Having worked with many investors using the BRRRR method, I can guide you through the financing process, ensuring you understand the best strategies for maximizing your returns.Quick Turnaround: With a streamlined application process and quick approvals, you can move fast when you find the right property.Personalized Support: I’m committed to building strong relationships with my clients.

If you need more detailed help, feel free to ask!