And yes, I’ve since bought a new primary so if I refinance my only option would be to refinance into an investment property taking the interest rate from a 3.75% to a 4.3% and the cash out would only yield 15k since I initially only put 5% on the primary!

Financials: Mostly COC return (NOI/initial investment)2.

The up and coming business in the area is just the cherry on top, lot of money and initiatives being dumped in. 

@Ken Dunn made some good suggestions for how to protect yourself in your initial contract next time, but in your case it sounds like you've already settled and the old owner doesn't have any obligation to you at this point.

I've worked to follow the Info Template above:I had a good year in 2017 and when time to pay the rest of the taxes in 2018 and after getting a call from a motivated seller, I instead made an installment agreement with the IRS and bought that initial Colorado 4-plex on owner-carry for $800K using that $50K earmarked for the IRS - for the down payment.

Just can’t pass up the great cash flow, roi, and locations here right now to get an initial portfolio built.

If I did the numbers right, rates would have to go up to over 10.25% for the payment amount to be the same on the remaining principal as it is today on the initial loan.In terms of goals, I’m a buy and hold investor.

The initial legislation tried to bring in rent control but that eventually got shot down by the end of it.

Or do you think you have the self-motivation needed to succeed without this initial investment?

Plenty of considerations with short term rentals that you might not think of initially, for example- different people coming & going all the time, does this have any impact on neighbors?