Also HELOC's typically have lower interest rates than personal loans since it is secured by your home.

Once we lowered the price to $1 less than everyone in town we filled right up.

Single-family homes offer higher cash flow, lower maintenance, and potential equity growth, but may have less privacy and slower unit growth.Good luck!

Sherman does seem interesting though because of the lower cost and growth potential.  

Contrary to most business lending, the REI industry has a lot of "non-bank" lenders that provide attractive loans that can lower your cost of capital and improve your profit/cash flow. 

Alternatively, your in-laws could partially gift the property by using the annual gift tax exclusion ($34K per couple annually), lowering the sale price and their taxable gain.

I haven't seen prices drop too dramatically but I have seen homes in my buy box sitting on the market longer and some lowering prices. 

This was my first deal, and house hacking made the most sense because it lowered the threshold for risk in my mind.

However, if single-family homes prove financially viable, I’m happy to continue building in that niche.Since these homes and projects are significantly cheaper than my market, the risk is relatively lower for me and can do at least two at a time.The ChallengeOne of the biggest hurdles is finding reliable contractors and subcontractors in the area.

If they have a good interest rate it might be worth looking to see if you could assume their loan to take advantage of the lower rate.