not a great deal compared to buying 5 year term first trust deeps on performing rentals that pay 9 and 10% and you get paid off in 6 months then what .. no return.. until you find another deal so your drag on money turns your return much lower.. now if it was 10% or 7k over 6 months that would be something to think about.. but not an interest rate for such a short duration.

They will also loan on properties that require a lot of work, which gives you the advantage compared to a conventional bank or a FHA loan. 

How does that compare to the market?

Comparable homes in the area have sold this year for $600,000 plus ($40,000 appreciation in just 1 year). 

This is truly motivating to me as I'm currently working on my first flip that is minuscule compared to this but wowzers! 

The rates and terms on a portfolio loan were terrible compared to doing 3 separate cashout refinances.   

Of course I have no idea how your home compares to his in terms of location and size, etc. 

Comparable rentals go for between $1200 and $1500 a month.

Also you should get some quotes to compare, state farm usually have reasonable landlord policy.

My real estate tech startup Clever, based in downtown STL, is a licensed brokerage, and everyone on the team had to become licensed agents -- but given that our full-time jobs are at a startup, none of us are "realtors" in the traditional sense.