Point being - if it is a nice house, and an INCREDIBLE deal at the opening price, you will likely find lots of bidders bidding - and the price will ultimately end up being 10-15% off what it would sell for on the open market This is definitely not a certainty... you hear stories all the time where someone gets a hell of a deal... you just never know... but on average (where I'm at)... nicer houses sell for a price that is discounted, but not a crazy steal. 

You need to know that you can take care of your financial situation and really talk out what you think is a great financial situation before you “jump off the cliff” with people who are where you are wanting to get to.

My mortgage is almost 1/3 paid off.

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Does it make sense to pay it off instead of investing in another property because it’s already proven to be successful?

If you plain simply want to pay off the hard money loan, you can go up to 80% LTV on a rate and term refinance, with no seasoning requirement. 

But the value that can be added in high value markets is greater than in low cost markets.My last value add (purchased Dec 2021) was purchased off market at $2.25M and was appraised at purchase at $2.5M for the loan (so on purchase I "made" $250K). 

What we are seeing is that there is more off market activity going on. 

Also, you can only have one VA loan at a time, so, if you use it this time you cannot use it again until the loan is paid off.

I also have an off-market opportunity (3-unit) LTR/MTR in Hilltop across from St.