Since the interest rates are high right now and prices pushed back a little bit I thought about doing an owner finance on a five year balloon.Thinking about paying it off in full and then turning around and doing an owner finance at a value somewhere between its current condition value and the ARV.

I told them I didn't want to do the consortium deal, so they offered me another one where I would need to pay a 30k USD down payment and have an EIGHT PERCENT INTEREST RATE.

Obviously, lowering the fee and raising the rate is an option but that feels a little bit like spinning my wheels.At some point, if I'm dropping my rates far enough to compensate for a high cleaning fee, we get into the conversation of "is it even worth it to rent it at this rate and risk property damage, 4 star review, etc".

I need to research all 4 and compare fees, interest rates, and tax benefits. 

I got my Va to create a spreadsheet and call all of them for rates, amenities, and if they where at capacity.

This assumes ~8% interest rates.Interest rates in New York tend to be 25-50 points higher than the national average although maybe I suck at finding good mortgage brokers.

BTW: The 75th percentile rent for market rate apartments with only w/s/t included even in N Collinwood is $1064.

Both properties fall into Class B- category and has no HOA and no rental restrictions.Here are the details for each property:Property 1:3 Bed, 2 Bath (1020 sq ft)Purchase Price: $250,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $50,000 + $30,000 (rehab) = $80,000)Projected Rental Income Post-renovation: $2100/monthProperty 2:2 Bed, 2.5 Bath (1168 sq ft)Purchase Price: $230,000Moderate rehab needed (Kitchen, floor, bathroom sink vanity, light & fan fixtures, interior paint)Rehab Cost: $30,000After Repair Value (ARV): $295,000Down Payment: 20% (Out of Pocket: $46,000 + $30,000 (rehab) = $76,000)Projected Rental Income Post-renovation: $1900/monthThe location is moderate, with amenities like shops, restaurants, a mall, and a baseball stadium within a 5-mile radius.Considering buying both as they are in the same building, the total cost and income overview would be:Total Price for Both Properties: $478,000Down Payment & Closing: $96,000 + $10,000 = $106,000Total Renovations: $60,000Total Price (Including Renovations): $478,000 + $60,000 = $538,000Total Out of Pocket: $166,000Projected Gross Rent Monthly: $4000The rate of interest for the mortgage is 7.5%.I am currently evaluating: A) The break-even point for two townhomes considering a cash investment of close to 32%.

I feel that a new investor doing a BRRRR is too risky and does not have a high success rate.

@CJ T.Yes, I think you may be confusing a business credit rating vs. having credit lines.For example, personally people talk/ask about their credit score.