The billion-dollar project was given the green light in 2007 and was supposed to build up the last waterfront area in Baltimore and I think even Trump had some plans for a high rise.

This is not enough margin for a BRRRR strategy to be sustainable.Your interest rate will be based upon the market rates at the time of your refinance so yes they will change but typically won't change drastically over a few months.Some advice you didn't ask for:Your price point is low to find traditional financing.

FHA- My mother can purchase the home traditionally, but won't have the funds to remodel the home.

Traditional 30 year fixed rate mortgage through a local credit union.

It's questionable how much more rent I can get with light upgrades for the area but I'd be aiming for $200 more per month on an $8k budget per unit.Expenses include property tax is $380/month.

I love a challenge, but please shine the light for me if you think I might step in a ditch.

For this deal, I used traditional vacation home financing and was able to get an interest rate in the low 3% range and put 10% down.

Yesterday in Virginia Beach we put a full cash offer in on a home that would not qualify for traditional financing so it would only be investors bidding, it looks like we are going to lose that today as someone offered over 20 grand for that property.

If someone could shed some light on this, that would be helpful.

If it ain’t broke don’t fix it, but the lights just flickered.Kind regards