Rates will be in the 5's right now.

This program is also winning on our weekly interest rate survey at the moment.Here is an example of a loan summary put together for a client last week.

There are markets that are very saturated with STR and with vry bloated prices and high interest rates it could be impossible to turn a profit at all. 

Conversely, I want to take that money and drop it on a Single-Family Dwelling in New Jersey (where I currently live) and then rent it out. 

Looking for advice on how to maximize tax benefits on an upcoming conversion of my primary home to a long term rental (temporarily).

So what been happening: I have made it to the point of conversation with a couple of sellers at this moment. 1 seller offered seller financing, I think that one is in the bag. 1 other is the reason why I am making this post. seller asking 190k.

When I've sold items on Facebook marketplace before or given things away using my Buy Nothing group, I've always checked the age of someone's profile and any public info on their profile along with evaluating the conversation to see if they pass a "vibe check".

Single-Family Home with a Basement:Pros:Familiar single-family living with potential rental income.Can be a good starter home, quieter living if the basement is well-soundproofed.Potentially lower initial investment compared to a duplex (depending on renovations).Cons:Finding tenants might take longer, especially if the basement isn't a fully formed apartment.You'll be responsible for all maintenance and repairs for both units.Less separation between your living space and the rental unit.Multifamily Duplex:Pros:Clear separation between your living space and the rental unit.Potentially higher rental income with a full, separate unit.Faster tenant search as it's a more traditional rental format.Cons:Might be slightly more expensive upfront than a single-family home with a converted basement.Potential for noise complaints if the duplex isn't well-built.Dealing with potentially two sets of tenants (though vacancy rates are typically lower with duplexes).So, which one to buy first?

@Jon Thomson You didn’t mention what your current mortgage rate was but no sense paying down or paying off a low rate mortgage just to then borrow from the same property at a much higher rate.

HOA fees are rough for borrowing on investment properties in this interest rate environment too.