This would still provide a lower payment than I have currently.

HELOC is a good option for lower closing costs, though rates are probably higher than a mortgage and may continue rising.

All this to say, a voluntary vacancy in January is filled with temptation to either lower one's standards or pay a high price in utility bills, insurance premiums and potentially emergency repairs. 

Numbers are based on list price of $575,000 but i would list at $599,000https://bp-v-newproduction.s3.amazonaws.com/upload...Since I am in the construction business these numbers are realistic and I would hope to complete the job at a lower cost. 

But for a new construction the maintenance is much lower.

The loans we are deciding between are the Fannie Mae Homestyle with the Homeready (to bring the down payment lower) and the 203K loan.

And my main driver an investment is what CoC return is.Now with that said, I have started to look at more investments with a lower CoC (as I have more financial capacity now) and a higher IRR.

I specifically bought it to lower my living costs via roommates.

Rotorua is lower demographic, you need to know where to buy as some areas better then others. growth is OK but nothing special.

Run your numbers very conservatively on a lower-class property.