My parents live in Prescott, Arizona and it seems to be an area that has continued to boom, has low vacancy rates, and a bit of a shortage of rentals.

Mortgage as opposed to Deed of Trust.

Since we are out of state, we need someone to observe the minor renovation progress.What would be the average daily rate for hiring a renovation project manager to check on the progress and ensure that contractors are doing their job properly?

My First BRRR Deal in Milwaukee Purchase price: $95,000 Cash invested: $33,785This property was acquired by a hard money loan with an interest rate of 12.99 percent.

We have been blessed to serve a a ton of Bigger Pockets clients and the biggest challenge we have with house hackers is the FHA Self Sustainability test.. 75% of the overall rent has to cover the PITI.. with rates where they are this has been a big challenge. 

I suggest selling this deal and 1031 exchanging into a larger deal, it would be a lot easier to finance, and you would get better rates on it.

I thought the arguments being pursued by Joshua in this thread sounded all too familiar, and it seems the intervening two years have done nothing to dim his enthusiasm to borrow money at higher interest to partially pay off a low Interest Rate mortgage, even though mortgage Interest Rates are even lower now than then. 

It could be an opportunity for you to buy a property for you to live in while having part or all of your mortgage paid by another unit.

Like I said, im a noob learning terminology and just learned Cap rate and debt ratio yesterday 😂😂 wish me luck!!

Orlando is a tough market, I think it would be very difficult to show any return at all right now with the high rates.