Creek running thru it wasting some land, 5 acres to remain to develop and build.

But there's one more thing--this should be coupled with an interest rate forecast that ties to the borrowing rate so that there is true variability in the underwritten rate--not just assuming that the index remains flat for the life of the loan.

I will conduct a move-out inspection and handle the deposit per state law and refund any remaining funds as quickly as possible."

Then like Tim said, use the remaining funds as a 20% down payment on another.

The purchase price + rehab $ spent + rehab $ remaining if the property is already owned.- LTARV or loan-to-value: This is simply the total loan amount divided by the after-repair value of the property (what the property is worth following the completed renovation), or total loan amount/after-repair value.Interest rate:Generally 8-13% within the HML space.Beyond just the interest rate, it will be more helpful to compare the total cost of capital between lenders.The total cost of capital includes other costs like origination points and fees, so that you can get a true apples-to-apples comparison amongst lenders.Security:Most HMLs put a 1st lien on the subject property and stipulate that they must be the "1st and only" lien.

A lot of this extra money in circulation has made its way into the STR market so this could remain for years as just the price of doing business with inflated rates.The bad: There is no way around supply and demand.

Real Estate in my mind remains a basic need that will remain in demand regardless of global economic developments, and it is simply up to us the investors to manage, and control those assets in the most beneficial way to our circumstances.  

After a year of living in the property, you can move out and rent the remaining unit.

We remained patient and saw the process through.

I have been approved for a 10 year tax abatement on the property so taxes would likely remain in the 15k range.