On top of that, a growing job market may offer some rosier prospects for more sales.Existing-home sales dropped 4.3% in March compared to the previous month and are nearly 4% lower than a year ago, the National Association of REALTORS® reported Thursday.

The downside of the HELOC is the interest rate is usually higher so you will want to pay it off faster. 

Last year, rent growth fell off, occupancies dropped, insurance skyrocketed 4X, and interest rates rose (if floating).  

I would weigh those two options out and see what costs less overall between an entire new loan and or the blended rate of the two.

Let's put expenses at 15% since it's a new build, and you're looking at a 10.2 cap rate.

So I’m wondering if anyone has experience with other property investment friendly insurance companies with good rates before I start shopping around. 

I’m assuming that I’d have to personally guarantee the mortgage as the LLC is fairly new (18 months) and the cash flow from the property is not especially compelling given the current high interest rates.

Hey @Valerie Kinkead, drop this in the Classifieds section.

That flips as you add units, anything 5+ for example the market for buyers is near 100% pure investor - so value will be mostly determined by rental potential (cap rate)

With current rents and purchase price, it has a cap rate of 8%.