The seller will have reduced debt capacity because the existing note is still calculated as a debt - they MAY be able to include an offset equal to the buyer payments after a period of time, BUT often the seller is surprised to find they can not qualify to purchase another property3.

Hybrid Rental StrategyRent as an STR during peak seasons, then switch to mid-term rentals during slower months to increase income and reduce vacancy risks.2.

My assumptions may be off  especially if you get the loan at a reduced rate, but it seems like you would need to get it close to the price you are indicating.

Also, I think this can be negotiated with the state as well and potentially reduced.

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Experienced investors often see the holiday season as an opportunity due to reduced competition and motivated sellers willing to negotiate for faster closings.

I'm fairly confident from reading online we don't qualify for an exemption, but I'm trying to assess actual closing costs to trying and reduce them All details:Bought the house 2.5 years ago for $980K (left on mortgage $753K), we have a clause for an assumable mortgage for me to take over (I can keep same rate).

It's been my experience that adding that to the lease has greatly reduced complaints from the City/neighbors.

Since I have the $500K exemption, does that reduce the exchange amount from $2.5MM to $2MM?

 You may be able to secure higher leverage financing through alternative lenders than a traditional bank (not always the case) and this may help advance your objective of reducing the down payment/cash requirement but that may only be temporary relief as you will likely pay more over the course of the loan because of higher rates and fees.