The value is continuing to increase on Hilton Head, but with buyers sitting more on the sidelines with interest rates, deals are being done in this market that can only be done right now.

We’d love not to refi bc we have such a low interest rate.  

Once you vacate your old primary and covert it as an investment, then you can cont. buying your next property as a primary residence with low down payment and lower rates than investment property.

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Property Details: SFH 6 beds 2 Bath 2016 sqft - Rented by the room.Purchase: 340,000Amount Financed: 272,000Down Payment: 20% (68,000)Purchase Costs: 12,777Loan Type: 30 yearInterest Rate: 8.75%Rents: 3,300**********************Investment Returns - Year 1Cap Rate (purchase) 8%Cap Rate (Market Value) 7.1%COC 1.8%Return on Equity 1.3%Return on Investment 25.1%Internal Rate of Return 25.1%

What I’m hoping to do is to pull some of that equity out to buy more, but a cash out refi on any property puts it into the negative cash flow situation since my current rates are mostly 5.5% or lower.

However, with mortgage rates being so high when I bought, I am worried I will have some negative cash flow (approximately 200-300 per month as a long term).

I have an opportunity to by a 6-unit property for $300K with a $240k Commercial loan and a Seller carry back of $60K at a 6% interest rate with a 5-year balloon. 

Most of the lenders I’ve had contact with have the 25% DP requirement, high rates, and high closing costs 

My mother-in-law is managing the state and doing some projects to get the house in better shape before going to the market.My husband and I would like to purchase the home as an investment property (rental); my mother-in-law stated that she would "discount" her part of the purchase, which means we would only pay 66% of the original price.I am trying to think of alternatives to borrowing the money.