TOH, location, age/quality of the assets, etc...

Yes, the timeframe between getting the new property and selling the old property is high interest and 3 different payments (old property mortgage, HELOC payment, new property mortgage).

The price was too high, initially wanted to combine the units to make a duplex.

The land is mostly forested with a year-round stream running through it - it's beautiful and private and was largely unaffected by the recent floods as it sits high up and consists of large hills.

@Tony Anderson check out flip with rick website or his YouTube channel before you buy anything.

I own some small multifamilies in Concord and High Point, NC.

Virtually every mortgage broker* will use the FM Selling Guide for determining eligibility, or you google "fannie mae underwriting guidelines" for high level details.

They also have some other helpful information listed such as ROIs, quality of life, things to watch out for in that city, etc.Currently they only show some cities and states that are "worth it" to invest in, but Im hoping that they can slowly add more.

Because the cash flow isn't that great due to HOA, I am hoping to find a PM who is competitively priced with their fees without sacrificing quality.

the cap rate for single family in san jose is maybe 1-2% ; DSCR is 0.25 ; but with very creative strategy we can make it into 0.8-1.1 but the key is using more tenants per unit, also home that has basement and ADU like me, the unit can be rented and while my dscr is above 1.0 but banks can't use it so we kinda stuck to leverage but this creativity of multiple tenants per single family.i am now trying 40 year IO program from one of the lenders such as yours to quality, also i will try no-ratio DSCR at some point.Seriously, by combining hefty cash position + flip program + rent out to multiple tenants ; and sell it few years later, this is the less riskiest project we can do as landlord/flipper.