If for example you reduce the rent and remove a concession (e.g., last month's rent free)), and someone starts an application at the old advertised higher rental rate + concession but then completes the application after the change (lower rate and no concession), is there a rule for which you must honor? 

Pierre Eade @Pierre Eade   Are you looking to pay off the HELOC just for a lower rate? 

I bought my first home paying 20k over asking price with a 10k appraisal gap, but lucked out with a good interest rate (3.9%) this was in 2022. 

I purchased a property where there was a verbal lease, month-to-month, 0 security deposit, and the rent was 1/2 of the market rate... some instances you're better off having the seller evict 1st.

I suggested to Clint to stack some credit cards to have zero rate for 12 -18 months as his cushion for cash.

On the surface, it seems like it meets a lot of broad criteria for being a positive investment, including a positive cash flow at a currently high interest rate, but I don't want to miss on my first step into this.

Are people still investing is San Diego or have the high interest rates and low cash flow moved investors to other markets?

Is there a difference in rates or process?  

I've got at 2.29% rate on the current primary and a mortgage payment all in of about $2600.

Obviously, you don't want to have a high interest rate locked in, but if it is the only way to close on an otherwise good deal, the short term cost may be worth it.