Median sale prices for Melrose (single family homes) in the last 3 years are as follows:2024 (year to date): $590,0002023:     -->              $535,0002022:     -->              $502,500With interest rates expected to drop several times from the end of '24 into '25, many believe that property values will continue to rise.If you are concerned about tenants not paying, I'd recommend:- Do not rush into accepting a tenant.

Going the attorney route will take time and money, but it could be your best bet if the developer refuses to renegotiate directly.All the best!

I never actually transacted with them though, and was hesitant to do so because of how new the company was at the time..

@Eric S. new britain. that is your answer. i invest there. i spent my whole life in CT besides the last few years. i know the area well. i own a few multi-family properties there currently. i went CCSU in new britain and lived in the town for 10 years. its an incredible source of cash flow and, in my opinion, the current mayor is doing all the right things. i actually see growth happening in that town, compared to the rest of CT that is struggling. happy to help in any way i can. just let me know!

However, you are going to have a hard time getting financing with that structure. 

As anyone who has held a mortgage for more than 10 years knows, they will likely get transferred a few times. 

Has this person submitted an application because my qualifications are strict and a lot of time the person doesn’t meet the basics so the esa doesn’t even come into play.  

I put Branson because that is what I am near, but I am interested in lots of areas, mainly Florida.Are rates really so bad right now that a first time STR buyer with 20% Down should not even try? 

There’s usually a one-time per loan fee for boarding (approximately $50) and if you decide to leave the servicer or take back a particular loan, there’s usually a $50 (approximately) one-time fee for “de-boarding” the loan.Skip Tracing – Servicer will research many different avenues to try to find your borrower.

Time value of money they could invest that $160k somewhere else and earn $50k+ on it over that period vs losing $96k.