The lender is giving 1% more than par rate and what they are doing they are refinancing after 6 months and payoff the a principal with remaining money left from initial 2-1 rate buy down and then again refinancing for higher rate and the cycle continues... hope this helps and let me know if it's confusing I will try to rephrase it  Something is not adding up here.. 

In return for an investment require access to the full life cycle of the project from design/permitting to financing and ultimately building execution.  

The goal would be to reduce your housing payment and then to repeat the cycle.

I have this crazy debt ratio without any bad debt (no credit card debt, no car loans, no personnel loans, no toy loans (I have various ritually every toy: 7 cars, 2 boats, a motor cycle, beach house - still missing a plane)).Dave Ramsey’s advice is correct for many/most Americans but is hindering to most BP users.best wishes

People were buying at a low part of the cycle.

Great way to build a portfolio and get out of the feast-or-famine cycle STRs can bring.Always happy to chat more about what has worked for other investors.

My sellers who sold at 2020-2022 knew they were selling at the top of the cycle.

Maybe somewhere in that 20 years you get a cycle or two where more opportunities happen and you try to take advantage of those to grow quicker.Hope that helps.

Vet sponsors hard: track record across cycles, fee structure, downside scenarios, investor communications, skin in the game, and third-party references.Leveraging those gains into local rentals (especially mid-to-long-term) is a great next move and gives you more hands-on control.

On the ones that have gone full cycle, my net results have been solid.