It's on you to learn the numbers, rehab estimates, rental rates, and good locations.

However, the existing tenants are paying about half of what current rates appear to be, according to my research on Rentometer, Apartments.com, and HotPads.

You can use this tool to figure out that part: https://docs.google.com/document/d/100dRzu-iQEIZbR1adxIASdH2...Once you have that you should engage a local broker to discuss the options for those types of uses in your market and they will be able to help you understand the overall picture and cap rates of the various options.

This price hike suggests a competitive market, with supply increasing relative to demand by a notable 21.4 percent, resulting in a 1.7 months' supply of homes for sale.This recent development in the Charlotte real estate scene is likely influenced by a combination of factors, including a dip in mortgage rates in December and a nationwide increase in housing supply.

However, the other friend (who is a loan broker) said it's better to do a note, so that I can refinance as a rate change in 2 months.

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Cash flow is difficult to come by even in Class C areas with higher interest rates.

The current mortgage rate on my duplex is 3.5%.So I just don't really know what to do.

I do understand the points and interest rate will be higher with a HML but it is more important to get my first deal done and learn from that then to need the biggest return I can get.

Now rates are 6-7.