Also, what are you main reasons for looking to STF in Rockford, not knocking the area by any means but there is so much opportunity within the city limits where you're less likely to have extended vacancies.Short term rentals have taken a beating this year, while long term rentals have seen an uptick in what they can charge due to high home prices, and inflated interest rates.

A large part of this was necessity; interest rates of 12% - 18% IF available doesn’t leave much room for profit UNLESS property can be transacted with leverage at a lower rate.

I can break everything down from NOI, standard operating expenses, and cap rate to assisting with an exit strategy. 

Chances are you will also have higher vacancy rates, higher repairs, and you may have tougher time finding property management.

The big drawback is that the interest rate on the Farmington condo would go way up with the refinance.

I think part of the problem is those who are well qualified and can purchase are, with concerns of interest rates going down in the near future (1-2 years) that will inflate home prices even more.

We analyze the entire single family and multifamily market simultaneously and rank them by cap rate. 

Quality work and fair rates.

We understand the rates might be somewhat higher for being a second position, that is ok with us.Most lenders will just go through the motion of trying to refinance the entire position, even if they tell you otherwise at first.

The duplex was vacant when we bought it so I’ll be advertising for a tenant soon.