There are no fees each time you draw. closing costs are often minimal, and the rate is similar to a hard money loan.

The total cost of construction including permit and finishing would come around 185k.

When you sell that same house, you probably want to have the buyer get a new loan.

With these changes, the portfolio is now expected to be about -$2,300 / month cash flow.I am considering a few options and would love this communities opinions:Option 1) Sell property 1 to pay entire mortgage of property 5 (highest interest rate) -- Pro: Improves cash flow by ~$1,600 / month. 

We are starting to see panic selling and homeowners trying to find alternatives to selling.

- Like @Sarah Kensinger said, Instagramable walls are a huge selling point.

This of course can prove to be a costly process!

If you're looking to take down a ~$35k property in PHX to hold and sell later, your best bet would likely be to drive those areas and contact the owners (or their brokers) that are selling.   

There are a few Categories that I have broken into their own calculations considering there may be cost savings depending on strategy employed. 

I think if you go in with the mindset of 'I think I'd like to live here, but if not then I'll sell it and buy one in the same market that I really want to live in.'