I don't have deprectiation in here and the monthly mortgage going towards principal.

I would pay for the lot and build with several lines of credit I have that are very strong and much cheaper and easier to use than hard money or construction loans.   

If we made buying cheaper than renting, you'd see some people not be willing to change.

Hi,It would be good to run the above by your lender, or an experienced local lender to confirm but generally you would have to get a signed lease on your current place to help offset the mortgage for your DTI and roommate leases typically are not accepted.  

As far as rates, keep in mind cash out refi rates are always more expensive than purchase so even if rates drop you wouldn’t necessarily get a better rate and tbh it’s my personal opinion that rates are likely to remain in mid 6’s or so for the next few years, As far as appreciation with rates dropping, I’ll be honest I thought going from 8 to 6.5 would be a bigger impact than we’ve seen and while it’s stillpossible we see that come spring I do think some markets are just too expensive and are likely to go nowhere for a while, I think the areas with the best appreciation over the next few years and this is just my personal opinion, under 400k in prime Baltimore location’s, under 500k single family in Howard, PG and Anne Arundal county and under 400k single family on the eastern shore, the reason being those are still area’s that are around par if not cheaper than rent that are also nice places for a family to live, while most normal home buyers aren’t necessarily looking at price to rent ratio it certainly factors in subconsciously and I believe though I could certainly be wrong any growth from here on out is going to be driven by 1st time buyers looking for single family homes that are affordable to them relative to the rest of the metro area.

It cost less, there is no Leon, and rates are prime minus 0.5 meaning as of today it is 8%. the benefit is it did not require Lein, home insurance, etc etc making it cheaper to acquire 

With the $130K mortgage it now only cash flows $175/month.

I assume you’ll have a mortgage?

I purchased for 315,000 and have 285,000 remaining on the mortgage.

You just contribute it your LLC.People have "difficulties" purchasing directly under a LLC because they generally want to use cheaper, conforming residential loans.