If things goes the way I anticipate, Austin will be probably my 3rd largest position in size but primary financial position. 

The agencies have minimum borrower loan guarantor financial strength requirements (IE - liquid assets => 9 months P&I; net worth >=100% loan amount; FICO >680).

Instead of moving into another single-family home, consider house hacking a duplex or triplex, this allows you to use low down payment loans (FHA, conventional) and offset your mortgage with rental income, accelerating your path to financial freedom.

Another benefit is it is much easier to diversify into multiple markets, asset classes and operators.Just wanted to share an alternative - often active investing is the way to go, but it really depends on the person and it is important to know that there are passive ways to accomplish your financial goals.Good luck!

Based on what you shared you are not financially qualified to own real estate.

You are bleeding money now, but each year it might actually get worse depending on the financials. 

Pricelabs aided in all my properties (except one I stayed in for a week last month) increase revenue last month (Jan 2025) as much as 27% over Jan 2024.

If you were able to increase the value of the property significantly after the rehab, then you could bring the deal to a community bank  to refinance and take the hard money lender out.You keep all the equity and don’t have to file a partnership return for your annual tax return, which can be costly.  

There will be no assessment for increase in taxes or insurance so remains at $1935.

Given that the property was worth $390K in its current condition, I saw an opportunity to make the numbers work while keeping my upfront costs low.Instead of increasing my cash offer, I negotiated a $25K down payment with the seller carrying the balance for two years through owner financing.