//cash Nathan - I'm curious to learn more about your position on appreciation and decreasing home values.

would hurt anything would be it might decrease the number of types of debt you have but I’d just be happier to have less debt and work on building up your credit score in other more positive ways like paying off some credit cards if you have balances on any of them.

But that is a very good point and one I am still considering because 4 homes on 1200sqft lots would sell in a day for 1 mil if they have garages (1440sqft lots are the min zoning requirement) I would just have to get variances that take 6-8 months.....I would be able to reach a larger demographic and decrease the risk of it sitting....As a matte of fact his was the original plan until I found out that I do not get to build garage by right, which became a problem due to not funding myself, thus unable to wait for the varience without losing money in the process (3000 a month, 8 months 21k, maybe I could wait even with the loan and still make out good, I am contemplating this)....Other than that I have no arguments to anything you have mentioned.  

That ROI is how to calculate how you make money in notes and do not understand the value of the note decreases with every payment so ROI is probably the worst metric.3.

However my cash flow has decreased from $400 a month (in 2019) to now $110 a month in January 2023 due to property tax increases.

If your tax burden decreased by more than the cost of the study, it may be considered worthwhile.

The long-term adverse impacts if this were ever to come to fruition is the loss of jobs, the loss of tax revenue and decreased property values, all of which Bissen has acknowledged.Some owners are attempting to cash out because they don't want to wait.

Credit score is about 760. 25 year term with a 5 year draw period.Option 1 using max line of credit:At the max loan to value of 89.99% the interest rate increases to 11.5% This is prime of 8.5% + 3%.Line of credit amount: $140,000Estimated interest only payment: $1,245.83Estimated full qualifying payment: $1,489.04Option 2Dropping the loan to value to 80% to decrease the rate to 10.5%.

@Wes Holmes Just to add a bit more meat to the bone of what others have said:It's standard practice for hard money lenders to require a personal guarantee, but once you have significant experience under your belt, lenders are sometimes willing to drop the requirement for a slight decrease in leverage and/or increase in rate.Regarding extra collateral, lenders sometimes ask for this if the deal is too high risk for them as-is, but you have significant equity in other properties that make it wash.

Again I do appreciate the input and see where my first comment inadequately described my entire process.