This 4Plex is in a great rental area with Centerville schools and great parks and shopping and food close by.

Most construction loans are written for 12 months or longer and most new build to sold and closed average closer to 9 months or more..

Management only magnify  when you are nowhere close Originally posted by @Aldo Balatti:I am in Canada and interested in having a vacation property in the US for short term rental in a long distance/far away market from where I am living.

(My company closed, so actually they pulled the trigger.)The OP is making more than triple what my wife and I made.

Share your assumptions below for a tailored model and insightsNeeded: Rent, Rental Growth, Occupancy, Interest Rate, Loan Amount, Property Tax, Maintenance Expenses, Purchase Price, sum of all Closing Costs (including commission), HOA Fees, and Renovation Costs.

And have a closing date of March 11.

As Sasha stated, that is at least $75k you need to bring to cover your current debts alone, plus closing costs on top of that.Leave the $280k @ 4.25% in place and find some way to pay off that construction loan. 

This property is in a great area for me in North Arlington (great schools, stones throw away from a huge community park, and close to I30), and the plan is to live in it for a year or so before renting it out (I’m sure I’ll be picking your brains when the time comes!). 

You can always double close though, so it doesn't change much. 

@Liam Willder because If you purchase with a DSCR it is expected to be occupied by a renter, often by the time the loan closes or shortly thereafter.