With a tax deed, on the other hand, the main concern is municipal liens since mortgages are usually wiped out.

This concerns me because now the ARV could be $260K range.

A simple written agreement won’t cut it if things go sideways.

About 1/3 are still not providing distributions but their cash position is strong and I'm not concerned about them potentially selling at a loss. 

Typically credited it as cash required to close as long as appraisal comes in clean. you would still need rehab funds or get financing on those:I would be concerned about refinance as the ltv when renovation is complete is very high and DSCR typically on refinance  may not go as high as you need

If you're using HELOC funds for a down payment on a new property, underwriters might require you to qualify based on payments for BOTH the new mortgage AND the full HELOC payment, even if you plan to pay off the HELOC soonIn my opinion, neither of these concerns are things that will not be sorted out by the title company and/or the loan originator.Greg, If you read Tony's question he was asking for "Anything" that may not be common to a new investor that could arise or be a pitfall.

Quote from @Cody Miracle: I have just recently discovered the possibility of real estate investing and I'm concerned whether I should invest out of state or not.

We held an in-person meeting over 6 months into the project to express our concerns with the timeline and to request weekly check-in calls.

My concern is their fees.

.📊 Key Market MetricsHome prices: Down ~2–4% YoY (median ≈ $276K).Price cuts: ~28% of listings cut asking prices.Days on market: ~118–121 (up from ~103 last year).Inventory: Approaching 4–5 months of supply → shifting toward buyer’s market.Condos: More supply, longer sales times, higher HOA + insurance costs.Short-term rentals (STRs): ~60% occupancy, solid in peak months but more competition.Financing: Mortgage rates easing slightly but affordability still tight.💡 What Investors Should KnowCash flow > appreciation – Buy properties that pay today, not just someday.Condo caution – Watch for HOAs, insurance, and oversupply dragging returns.Inland & off-peak areas – Better value, steadier long-term tenants, lower entry cost.Negotiating power – Cooling market = leverage for buyers.STR playbook – Professional management, upgrades, and pricing tools are must-haves.💰 Investment Buyer OpportunitiesMotivated Sellers: Nearly 30% of listings cutting prices → room to negotiate.Single-Family Homes Inland: Lower prices + stronger year-round rental demand.Retiree-Focused Housing: Steady demand in 55+ and low-maintenance communities.Small Multifamily (2–4 units): Rising rents + less competition = strong buy-and-hold.Fix & Flip: Longer DOM = distressed sellers and below-value buys.✅ Bottom LineMyrtle Beach is shifting from a hot seller’s market to a more balanced one.