If they buyers back out based on one of their contingencies, you'll have to pay it back.

Are we talking $100k or $20kNote that the appraisal is based off the work you put into it and won't be based off market comps for a few years so you are really limited pulling out your capital till 5-6 years and the max LTV for a cash out refi is 75% if you are owner occupied and sign another 1 year occupancy agreement

I was mainly focused on the Class A but they are 175K more for 2-300 sq ft + garages and only get 200$ more per rent per side (this is a 2023 duplex - No garages 3/2/0 1100sq ft per side. these are day 1 numbers with base case rents (rents on a class b are supportable by section 8 where as the other more expensive units would be too much for the same 3/2 .

Based in NJ.

Built in 2003. 3/2 1,800SF Estimated sale price $250-260k based on comps checked on Redfin.

The denial was based on the following reason:"The proposed use Visitor Accommodations is prohibited in the RM-1 Zoning district per table 14-602-1".At this juncture, it seems my next step is to appeal to the Zoning Board of Adjustments.

I was looking to purchase a beach house some where in North Carolina so I could be close to my home base of Charlotte, NC and not feel like when I returned, I would need a vacation from my vacation..

With Norfolk Naval Base, EVMS and ODU, rentals are always in demand.

I'd guess $12,000 - $15,000, including the utility work - based on my experiences in SoCal.....

Your exit strategies could vary from doing a lease option, selling sub-2 and still maybe getting your equity paid over time or cash out and 1031 into a property closer to where you are going..maybe buy a multi family and hosue hack it...Let me know if you'd like to discuss further, Best of Luck!