In addition, the 30-year fixed-rate MBS price (such as the 30-year UMBS 5.5) should be closely monitored, as it is in lock-step with the mortgage rates, just in opposite directions.I also agree on your point about documentation—those underwriting requirements aren’t just red tape, they’re what keep the secondary market working and make 30-year fixed loans possible.

NOT trying to advertise or market here, just equip to explain and facilitate your math of things. 

Columbus, Dayton, and Pittsburgh all have strong fundamentals for small multis, and I like that you’re also considering Midwest secondary markets like Fort Wayne and Des Moines — those often deliver stronger cash flow than the bigger metros. 

still not following the math how do U get 240 lots on 64 acres? 

If you do the math the analysis supports this on a probabilistic basis.

On paper, the math works, but in reality vacancies, repairs, and turnovers eat into those projections faster than expected.

The issue is, there is a LOT of math that goes into this and I am having difficulty weighing the pros and cons.

I live in Hawaii, where none of the math looks like it will make sense to invest here.

Always great to connect with agents who understand ARVs and investor math.

But, the market is still strange and it's hard to make the math work outside of the tax savings.