Maybe, the "Smart Money" was smart because they got their payday when they sold to the individual investors?  

The current owner has 27 years and $247,600 remaining on their loan at 2.875%.

There are closing costs, loan origination fees and Homeowner's Insurance to add into the number, You will get better detail from whomever is lending the money.

While private money isn't highly regulated at the federal level, there are subtle nuances to be aware of in each state that may trigger your loan becoming a security and then the SEC would have regulations to consider.

What's the going rate for 30 year fixed DSCR (loan amount approx $150k)  Good credit and enough experience investing. 

Loan to value ratio: The higher the loan to value ratio (LTV) is, pricing takes a hit.

Loan to value ratio: The higher the loan to value ratio (LTV) is, pricing takes a hit.

Does the IRS care about the type of loan I'm using?

I had planned to take out loans in a cashout loan but rates accelerated too fast in 2022 and I never got that chance.But now that everyone is talking rate cuts I’m kinda thinking I take the deal and hope I can refinance these 2 properties at 5% interest (or less) sometime before 2028?

Are you looking for just a vanilla conventional loan on an owner-occ SFR here in Austin?