The main issue I have is contemplating the baloon payment at the end of the 2nd year and refinancing the remainder with a bank...how can I compute that into calculating the IRR?

Before that, I had contemplated working with Rent To Retire Group as they are a reputable group finding turn key properties for sale.

The cash flow is a bit sub par on this one and I anticipate some larger expenditures coming my way in a year or two so I'm contemplating this as an option.

With the city contemplating expanding the ADU ability to city wide, is there any benefit to doing a rezoning now (assuming successful) before the citywide expansion takes place?

I know the hotter markets are in Sylva and surrounding area.Been contemplating how Franklin would do in STR myself.

Sometimes you might want to go extra on something like the master bath or contemplate other exit strategies.

Most lenders will vary how aggressive they will get based on the experience of the operator (you), but I don't know any that will lender to someone who's never done a spec build like you're contemplating.

When most US investors are faced with the prospect of converting (lots of) USD to JPY, to buy properties in cash, that in depreciate in value (when contemplating resale) and face decreasing rents over time... you need something else to justify choosing Japan over the US.

Seriously contemplating going a few years without any landlord's insurance. 

My wife and I just recently started investing in the past couple of years and have a MTR duplex in WI but have been contemplating the Duluth market.