I guess this isn't the worst thing, since the low rate on the first mortgage would offset much of the higher rate on the 2nd.4) Refinance the entire property at whatever I can get - 7% or so.I'm just wondering if there is a solution where I can really take advantage of the low rate on the first, offer the property out to buyers with a wrap loan and drive up the asking price because it has built in financing with a fantastic rate.Any ideas shoot them over!!

Hi Alex,I’m not familiar with the market but did a little digging last night and I’m open to the idea!

If you have “little” as you said in your forum title, house hacking may be a good idea, where you own the property but rent some part of it out, whether it be an extra room or an extra floor in a multi family property.

It is a very difficult area to operate in because of limited service providers, home quality, and the increase in supply, and big drop in demand. 

Your math is off, it's much more complicated then that, but the idea described by @Dave Foster can basically accomplish what you want.

for 1050/month all bills paid. they claim this cash flows 3600/month (4200-600). the math on that is they say electric is 90 unit, trash and water is 50 each for all 4 so theres your 600 and say they can provide receipts on all this. it's located  a handful of miles, about 6-8, outside the nearest small town with a wal mart etc.one thing is it seems better apts, in town with 600-800 ft, go for more like 1k no bills paid. even adjusting for the all bills paid part, i feel like 1050 is aggressive on these. otoh near me some crappy tiny apt with mold and everything go for 750, and these are much nicer than that. i think 700-800 would be an absolute floor on what they could rent for.i guess i just have no idea for example, insurance?

I look forward to watching your investment journey and I’m here to chat about strategy whenever you need someone to bounce ideas off of. 

And you think that's a good idea because she may have messed it up and you don't have time to deal with it?

Also, the documents should show the Common Elements and Limited Common elements and who insures them. 

This is outside of the city limits, so it's unincorporated Pierce County, Washington State.