Also, while permits are available, the STR market here has become saturated and receives constant pushback by the NIMBY locals. 

The entirety of this project was financed by a HELOC, and at closing, we will wipe out our debt incurred to complete this project.

Her Mom currently lives there, but the house was given to my girlfriend by her late Father.

The book on Advances Tax Strategies by Amanda Han and Matthew Macfarland is a great book to understand the tax implications associated iwth investing in real estate syndications.

The market vacancy rate held steady at 11.6% compared to Q4 2023, while asking rents declined slightly by 0.5% quarter-over-quarter to $234 per unit.

Increasing vacancy often means keeping rents low and offering concessions.And while you will sometimes see "merchant builder" developers self manage with their lean team to just get a deal ready to sell, this deal is managed by Willow Bridge, who manages 180,000 units.  

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.2.

You’d be shocked by how little actual screening many PMC’s do!

Originally posted by @Chinmay Nerurkar:Originally posted by @Peter T.

Now, take that to 80% and drop the credit score 50 points and the rate increases by quite a bit, but generally, you're looking at a higher rate for non-QM.