Here's a very small pros and cons list I've made for the area:Pros:Potential for Appreciation: Rapid growth and development can lead to property value increases.Stable Rental Demand: Proximity to Raleigh and economic opportunities ensure a steady stream of potential renters.Desirable Location: Good schools, amenities, and quality of life attract families and professionals.Cons:Market Competition: Increased demand can lead to higher property prices and competition among buyers.Out-of-State Management: Managing a property remotely can be challenging without a trustworthy local team.Economic Dependence: The area’s growth is closely tied to the economic health of Raleigh and the Research Triangle.

Does this mean I shouldn’t pay down mortgage with such high interest?

When we analyzed it I thought on the high end we could make $50k but it sold off market and quickly so no complaints getting a little less out of it. 

Should we hold out for a better offer, or take a cash offer now?

There are lenders that offer helocs / second mortgages on investment properties. 

The rehab estimate is about $150,000 but it could go as high as $220,000. 

@Kim McGrathI highly doubt you will do better than 8% as land is very difficult to get financing for right nowWhat is the property worth?

**Quality of the Property**: The property itself is of good quality, requiring minimal immediate repairs and offering modern amenities that are attractive to tenants.3.

Prices are at all time high and interest rates are near 20 year high.  

Fees will also be high on these loans