I understand some of the benefits of an ARM especially if it gives you a lower interest rate and you don't plan on holding it for longer than 5 years or however long the initial rate is.

Your rent rate is currently $500 below market, but I am willing to keep it below market as an incentive to stay.Your new rent rate will be $1,650 effective June 1st, and I require you to take responsibility for the heat.

Considering the high interest rate, the projects and COC return seems too good to be true.

A wrap-around agreement is a type of secondary mortgage financing and involves the buyer paying the seller directly for a residential property — often at a higher interest rate than the original mortgage.

Here is what is good: in Colorado they pay 9 points above the current US Federal Discount Rate (which is 5.5% right now) - so that would be an interest rate of 14%+.

I am using a FHA loan on my primary residence and don't want to refinance because we have a great interests rate. 

I am happy to expand on topics of rates, cities, etc.  

Because one of the best things about investing in real estate is the tax benefits. when you invest with your SDIRA, you do not get to take advantage of those benefits. but with notes, where income is interest income and typically taxed at ordinary income rates - that is huge if you can defer or not pay taxes on that income.

This will have one more bed and bath which will bring a higher nightly rate but I'd be happy if it performed as well as our current STR.

AirDNA says the occupancy rate for STRs in Raleigh is 33%, which sounds low to me, and as I mentioned, there are 107 empty full-unit MTRs.