As loans are offered on preREO at a discount, a payoff or reinstatement would typically generate a good return for the preREO investor.

One other advantage is that many of the builders that I have worked with are able to incentivise the sale with interest rate buydowns that make the deal work.Best of luck moving forward. 

Since she was a first time homebuyer we were able to save her 1% off her interest rate!

Fannie/Freddie (Conventional) loans aren't just about rate and transfer taxes. 

It's no different than their 2-year, low interest rate teaser houses.

Interest rate- prime plus? 

Hoping at some point the interest rates drop!!!!

Proximity to Nashville is key—properties within 5-15 minutes of the city tend to attract more guests, but a nicer home 20-30 minutes away could provide more value in the long run.Make sure to research short-term rental rates in both areas to determine which offers the best return.

Question: Should I collateralize the loan (if using private or hard money), or rely on roll-over loans (to maximize the lower points and 3-4% rate)?

Also look at those Vrbo and Airbnb calendars and see how full they are and what nightly rates they are getting.Should be easy from here to see if a new property would pencil in or not.