It’s especially advantageous that your construction costs are lower due to being a builder, which really boosts the overall profitability of the project.The numbers look strong, especially with a refinance at 5.9% the $24k net after expenses and $12k yearly pay down show a solid return, even with conservative estimates.

Ultimately, the decision depends on your tolerance for waiting.Good luck!

Ultimately, it comes down to your strategy and how much you aim to scale. 

Another option is to consider short-term rentals or medium-term rentals to boost your income.

However, that won't work for several reasons:  1) The lender is not going to finance the $15k assignment fee2) The lender isn't going to consider the purchase price in this example to be $150k, they would typically use the $135k price in the original contract, and 3) In this particular example they may not even use the $135k price because it's not an arms-length transaction since it ultimately boils down to a deal between you and your father.I applaud you for trying to be creative, but ultimately what you're proposing isn't going to work and it's going to make the transaction a lot more complicated than it needs to be.

Boston has invested heavily in its Seaport district, adding parks and public spaces that boost property values and attract commercial projects.

Hello Bigger Pockets folks,I’m an early career professional mechanical engineer (~8 years) hoping to learn the ways of real estate investing and make the ultimate pivot.

Everyone has provided great insight so far, but ultimately your obligations as the landlord and the tenant's obligations are defined in the lease. 

Ultimately, it depends on what’s going on in your local market and how involved you want to be in managing it.A firend of mine who was managing a similar property in Scottsdale ran into some issues during a vacancy period.

Leveraging $500,000 to invest in 2-4 cash flow neutral or positive STR units could be a smart move to boost your return on equity, as long as the markets support it.