If you are trying to mitigate partners not carrying their fair share, you can take on more (or all) of the work. 

.▪ Brief risk/mitigation bulletsDoesn’t need to be heavy, just shows we’ve already thought through the downside.Those couple of additions have made conversations with lenders much more efficient on our end, especially when moving from preliminary interest to real underwriting.Appreciate you sharing this, would definitely like to take a look at your full checklist PDF as well.

Too many days on the market which means higher overhead/longer carrying time. 2.)

I do the occasional one in California but the returns are better in the Phoenix area.The carry back is interest free to be paid when my Tenant Buyer refinances.

I know of several off-market fourplexes and a sixplex that have owner carry options.

Also align leverage to risk instead of one-size caps, and reward clean execution with lighter docs and quicker draws on the next deal.

That’s why so many investors here either focus on small multifamily (duplex/4-plex) with value-add potential, or Invest out-of-state in markets with better rent-to-price ratios.If you’re trying to make it work locally, here’s what most people are missing:Strict underwriting first: If rent doesn’t cover mortgage + taxes + insurance + PM + reserves, walk.Off-market sourcing: MLS alone won’t cut it - look at absentee owners, probate lists, direct mail, and investor-friendly wholesalers.Creative financing: Seller carry, subject-to, or using HELOC/cash-out from another property can make borderline deals work.If your goal is real cash flow, the fastest path might actually be to redeploy NJ equity into turnkey homes in the Midwest or Southeast markets like Akron/Canton, OH, Columbus, GA, Birmingham, AL, parts of TX - where numbers make sense, there are strong seller concessions and property management is simple for out-of-state owners.Always happy to chat more about what's worked for other investors.

Mine has been on the market for 6 months and, though I have had over a dozen submitted applicants, all have been way too high risk so it's sitting vacant. 

In certain situations additional lien on credit and excessive trade lines can cause future DTI issues, lower scores and denials on future loans.The rates our lower on mortgages versus Heloc right now and the terms are longer for example 30 year mortgage versus a 8-10 year Heloc and most carry prepayment penalties so if you want to pay it off early they can hit you with a prepay penalty of 6% or higher.Refinance allows you to have cash in hand and avoid the scary "What if" factor meaning loss job, lost income, late payment, over leveraged and if any of these things happen your credit limit gets reduced and in most cases closed completely.

Even if rates fall, it will still be very hard for many working class Americans to afford homes. 70 years ago there was less permitting required, less litigation risk/builder insurance required and way less labor regulations resulting in cheaper builds.