What’s the vacant land worth?

To obtain $200k worth of cash flow at current interest rates would require around $7M worth of purchased real estate in the NY metro region if they all had loans at their nascent stage. 

If the rates for a cash-out refi are similar to what you're already paying, it might be worth exploring, especially if you prefer the certainty of a fixed rate.

Definitely worth the contact if you are looking to move fast, and continue to scale/looking for volume.

AlabamaEffective Property Tax Rate (2019): 0.37%4Typical Home Value (2022): $189,9766Annual Taxes on Home Priced at State Typical Value: $702.9The current metro area population of Montgomery in 2023 is 374,000, a 1.91% increase from 2022.

@Jose RamirezHELOC's are very hard to come by for investment properties, they are also short term loans that are typically interest only with a balloon payment at the end.

The lot can be split and another property can be built that would make the deal worth it for the right price.

Sounds like you have been doing a few deals, and now you realize that your time and value are worth more than what you first agreed to which happens a lot.

It was owned by the Detroit Land Bank.I assure you this isn't about an uneducated investor dropping $200,000 on a house that's like worth about $130k.

I'm looking through the spreadsheet and I think it's worth mentioning that it's possible to spend a lot less for certain material items as well as labor in many cases depending on how frugal you want to beinterior door with hardware: $5-10 used, $30-50 newwindow: $10-50 used, $100-200 newlight fixtures: $1-10 used, 6 pack flushmount at lowes for $44fan fixture: $24-60 new water heater: $250 newtoilet: $50-90 newsink: $40-200 new faucet: $10-30 newtile: 0.49-2/sqft newappliance: $20-200 each appliance usedmy last rehab was:60 elec permit cost + 300 elec repair (tenant destroyed meter box causing house to be condemned)1600 material + 1500 labor flooring for 1400 sqft500 material + 600 labor spray paint whole house semigloss and patch some large holes$30 for 4 interior doors which I put in$10 mirror for bathroom$100 paint porch, stairs, and stair rail brown$50 fridge, $10 burner plates for stoveI also spent at least a few hundred with help on cleaning and taking out the trash and some other expenses here and there which altogether added up to about 5 thousand.I spent maybe 30 hours over there in total on the weekends.