I set custom calendars based on the property.

I have a partner in New York who will build it all cash, my GC fee I take $25k that I'm putting into the equity stack so we build at cost because they are building all cash and I'm a 35% partner based on deferred GC fee and cash and license as an agent to push the distribution higher.

Lima one is local to you NC based but strong in the Deep south..

Be careful of someone that wants to "partner" with you and ask you to use your credit.Can be a good idea, but only if serious partnership agreement created by your attorney (not theirs).You can also start building your network to find opportunities to refer out and learn from.Per this NY Times article, the average American knows around 600 people.https://www.nytimes.com/2013/02/19/science/the-average-american-knows-how-many-people.html#:~:text=The%20average%20American%20knows%20about,do%20you%20know%20named%20Kevin%3FPer the US Census Bureau, the average American moves 11.7 time in their life, which based upon an approximate lifespan of 84 years, works out to be about every 7 years.https://www.census.gov/topics/population/migration/guidance/calculating-migration-expectancy.html#:~:text=Using%202007%20ACS%20data%2C%20it,one%20move%20per%20single%20yearSo, if the average American knows 600 people and they each move about every 7 years, that means that the average American knows around 85 people that move in any given year.How many of those moves do you want to be involved in?

The chart below shows the additional cost for a base rate for situations including investment property.

We might be able to give you some more advice based on that location.What time of year will the folks be staying there?

Where I'm based in FL, I get HELOC requests all the time, but I tell them to start with a local community bank (over a big bank or broker like me).

As AirBNB and VRBO introduce policies that have the effect of limiting the STR owners profitability, the long eatables operating properties are going more and more to off app rentals most of which is based on word of mouth which requires years in the business.Better off finding a business opportunity where entry level has more chance for success

If there is enough equity at the 6 month mark you could do it then but there may not be much of a tangible benefit unless there is a PITI savings.If you are able to do some renovation in the first (6) months it might be possible to do it on the 6th month mark based on a higher renovation ARV.If you have any specific questions feel free to message me or reach out I am always happy to help and talk REI.

Regardless if a price of a property is high, I learned that sellers are humans and they will react and sell a property based on how they feel.