We current have about $500k in equity (down payment and loan pay down).

How do I protect my investment as the loan amount is more than the replacement cost of the property?

People online like to paint rosy pictures about how much money their short-term rental makes.

I would love to find another Fountain square back east and start doing infill like this article maybe 1 to 2  month would  be great we would just use cash so no loans etc..

Is this a good strategy that actually reduces the life of the loan?

Since we will not be doing the work until later on, would it make more sense to use the 504 to purchase the property only right now, then seek another loan or LOC when we are ready to begin the work?

First, determine what your lender offers in terms of Loan-to-Cost (LTC) for acquisitions and the maximum Loan-to-Value (LTV) for a seasoned cash-out refinance.

Current loan is 420k and value at 545k, credit score 740+.

Have been reading more online about HMLs and how to best use them for getting into Flipping.

If using high LTV loan and legit underwriting, the purchase will have negative initial cash flow.