Since you are a developer, then real estate is considered inventory and the loan documents specifically says that the borrower may purchase or sell normal inventory in the ordinary course of business.

Greetings BP Family,    I remember when the Corona Pandemic first began, there was so much talk about all the opportunities to come, the lowering of housing prices, the sea of foreclosures to come ect....Quite Contrarily, Ive noticed that it has only made things worst and more competitive for buyers, once again giving the power to the seller.Some observations:Prices have gone up- I saw a house that was listed two months ago in probably a F class neighborhood relisted for 25,000 more this weekThere was already low inventory, so now that there are even less homes for purchase...folks may have to fight over the few availableAuctions are suspended so this is one less route to explore.

Supply was already extremely low precovid, and covid cut the inventory in half.

We have the benefit of a large inventory and thousands of past and current tenants though.

Sure you have a lot more SF buyers, but we also have about 50 times as much inventory of SF.Also, are $1,495 and $600 actual rent figures where you are?

In some other threads,I read that, there is no much inventory for duplex or fourplex. is that so in Austin?

Thanks for starting this thread, *definitely not an expert so I want to follow this and hear people's thoughts.But my rough thought is I don't know lol and it's a great time to be patient, stick to great numbers, and try and learn from this experience.I know inventory still seems to be relatively low across the board in this state, and demand is high so from that stand point I can imagine prices staying high for a while until this imbalance changes.I also feel while I'm not trying to buy multi families, or certain single family homes I wouldn't completely stop buying in almost any market I just think you have to be mindful of what you're buying and really run your numbers like always.In the meantime, I'm trying to stay focused on finishing up a live-in flip and getting it to market while the comps are still very good, selling off a 2-family we intended to hold while the inventory is extremely low and demand is high, and focusing on buying more intelligently; deals that truly work as both rentals and flips to be a bit more protected (this is a goal anyways, but it becomes more important when the market is hot overall)

I just sold a HUD house that miraculously appraised high, but the sale price was very close to what I comped it at -- FMV.And the buyer demand is just so high, that adding that small an amount of inventory just isn't going to slow appreciation, let alone lower prices.  

Even if some buyers are sitting on the sidelines, the significant drop in listings and decreased inventory is correlating to a higher sale price. 

For Residential stats...In my market there is a drop of inventory(43% down from last year during the Summer).