You may get a better return putting your money in a CD.That said, new construction has problems of its own.

Its not doing much sitting in the bank/ stock market/money market funds.

@Jalen De Leon I find it is always wise to seek out local lenders who truly understand the specific market you're interested in.

You can sue all you want but I'd say you have described the need for 'earnest money' and it is time to say 'next'!.

Also I'm speaking from experience in losing a significant amount of money trying to do something similar. 

As rehab progressed and the HML paid out the 82K progress payments, she took that money and paid out her outstanding dues on other projects.

With long term rentals (or any house aside from a flip), you are unlikely to make money off the sale of the home if you have only owned it for 2 years after you pay the realtors and other fees.

You can also hold money for maintenance, capex, taxes, insurance, or other projected expenses.

The easy money is gone.

However, the money I’d save by not paying $3500/month mortgage is $42,000 after 12 months – thus recovering the money paid on the capital gains tax.QUESTION: would you advise selling the rental to pay off the new home and take the $1400/month rental income loss (and gain $3500/month savings) or would you advise keeping the rental?