As you can see, the numbers aren't great from a CoC return standpoint with current interest rates, but the location is strong - great schools, close to large hospitals, 10 mins from downtown, and popular suburban towns nearby.

We made a deal that they would stay in school and graduate and that the 19 year old could sign the lease.

You can increase your budget once the deals start closing.

Turning a corner with more inventory, more sales, still higher prices reflecting strong demand.Median Price: $660,000, +7.06% Yoy.Closed Sales: 3,615, +8.92% Yoy.12 month Closed Sales: 38,005, -13.85% Yoy.YTD Closed Sales: 13,004, +9.02% Yoy.Inventory: 5,896, +26.31% Yoy.YTD Inventory: 21,298, -10.88% Yoy.New Listings: 6,146, +15.96% Yoy.YTD New Listings, 20,237, +7.49% Yoy.Months Supply: 1.8, +38.46% Yoy.Cumulative Days On Market 38, -13.74% Yoy.

So you are leveraged out 72.3% and with a 450k loan amount you are looking at 12k in closing? 

This approach allowed us to move quickly and efficiently, ensuring the project stayed on track.

New supply hit all-time highs or very close to it for many cities in the state.

You could also do a simultaneous closing of a fixed first mortgage as a ‘cash out’ refinance and piggyback a new investment property heloc for future use..although the heloc rate will be stronger on the primary.

We've worked together closely for 20+ years and he's very experienced with coordinated 1031X transactions.

You claim they are bad landlords, but you insist on staying.