Even more so if the owner will offer a generous interest rate.

Meanwhile, sellers—who are often buyers themselves—responded to rising mortgage rates with some caution.

A high yield or higher than average interest rate would be ideal but that is my main concern.Thanks

They typically have fixed or adjustable interest rates, terms ranging from 5 to 20 years, and amortization periods of up to 25 or 30 years.SBA 7(a) Loans: The U.S.

If the other options fail, that allows you to keep the 3% and only pay the higher rate on the repair in the meantime.

Because the 0% interest rate was coming to an end on the first of my credit cards through Fund & Grow, I sought a second round of funding through them so as to maintain a 0% interest payment on the funds going forward...still had to make the minimum payment going forward which at that time had accumulated to about $1000 per month plus property yard maintenance and taxes.Hoping that Clayton would do some of his magic and get the house built, screen some qualified tenants and get some cash flow going to be able to satisfy the payback of the credit cards until such time that I could get the new house independently appraised and financed through a traditional mortgage which the cash flow would have easily covered according to what Clayton promises in his podcast relating to the new construction builds. 

I am not house hacking.This means that’s I will get less favorable rates AND will be covering a HELOC + second mortgage with the rental income, which seems difficult.

I want a better CAP rate than the market CAP of 8% so dividing $56K by 9%, I get $623K as the value of the property.

Here's a bit more in detail about how rates are calculated for DSCR loans:1.

On paper cap rate looks good and I've heard there's a hot rental market, but not sure about in practice and what quality of tenants we could expect.