Longer term 10+ years the lock ins will fade away as life forces people to move.  

For the past many months, I don't know anyone with more than, say, $5,000 in idle cash who isn't using Treasury Direct to get 5%+ on idle money; pick your term - short (4 weeks) or longer (52 weeks). 

Together, we negotiated favorable terms with the seller, ensuring a beneficial deal.

You want to make sure the project is going to be profitable, especially if you are taking on short term debt. 

What strategy are you going after and what are your long term goals?

In terms of new construction, a couple things to be aware of in San Luis Obispo County are water shortage issues and development fees/taxes which can significantly increase the building costs.SLO city and the neighboring cities are particularly diligent on their water usage, as most of the county's water supply comes from three surface water reservoirs and a groundwater basin.

If long term holds aren't working right now because of high interest rates, maybe look into mid-term or short-term rentals.If mid-term or short-term rentals don't work for a property or market, consider simple fix and flips.If entry prices for simple fix and flips are too high, maybe look for major renovations. 

Investment Info:
Mixed-use building

Purchase price: $405,000

Cash invested: $20,250

Mixed use investment. 2 residential units with 1 storefront

What made you interested in investing in this type...

Tax treatment on short term stuff is an issue. 

Be careful if the actual contract has any terms about assignment or allows their private access to the home before closing, as many "cash" buyers out there try to tie up your house for a low figure, then sell it higher to someone else before they decide to close it with you.