An experienced RE investor has a better understanding of what is a sound property, market trends, and how much should be invested to reach your overall goals.I'm not in Georgia, so I can't offer a state specific set of pros and cons. 

. $7000 closing costs on a $420K property plus an additional $30K for construction loan.

Additionally, many hosts who weren't fully prepared are now becoming absentee owners, especially as the strategy isn’t as easy or profitable as it once was.

I'm looking for guidance specific to financing my first property and what market I should do it in.

However, you will need to pay the additional cost of securing a new mortgage.This is based on:* I added $600 to ARM to cover its additional expense (increases monthly payment to $5,104)* No prepayment, except all paid off at end of year 5 for both loansThese are the monthly movements, I hid a lot of rows for simplicity

Some banks, however, will allow you to do a "transfer of ownership" to move the property back into your personal name when refinancing, but it could involve additional costs and paperwork.Hybrid Approach:Some investors choose to buy property in their personal name, refinance with the bank for better terms, and then transfer ownership to an LLC after the refinance.

Does the market/appraised value of house affect it?

Key Market Movers and How to Track Rateshttps://www.biggerpockets.com/blog/2024-dscr-loan-rates-and-...

I don't agree with the fee comment - certainly that can be an element of a scammy lender but there are certainly lenders that do require some upfront fees and other vendor/pass-through fees in addition to the appraisal. 

If you would like to learn about the Indy market and specifically the new build duplexes I have off-market, feel free to reach out.Cheers,Ryan Cheek