Was going to fix and flip... might BURRR OR

[Jamie Pluszczynski]

Hello to all you Bigger Pockets ROCKSTARS!! I am so excited to have found this amazing group of people to learn from, and grow with. My name is Jamie and I am a Realtor here in rural Michigan. I have been in real estate for 11 years and in the manufactured housing industry for nearly 21 years. I currently run sales and marketing for 8 manufactured home communities here in Michigan, in addition to my real estate business, and now investing. My life is busy, but exciting. Recently, I ran into an investment opportunity that I could not turn my back on. On July 3rd my S corp closed on a 3 bedroom 2 bath manufactured home on 3.5 acres. The property was a complete mess, and of course most investors and buyers are afraid of manufactured homes, period. Needless to say, I bought right! The ARV on this property is $140,000 and I only have a total of $58,500 wrapped up in the home, including the rehab. I was originally planning to fix and flip until I got to listening to Brandon Turner, now i'm considering the BURRR method OR pulling a equity line of credit. What are the chances of being able to get approved for an equity line on this property under the business, if any? I would rather sell the property at this point due to capital gains and the fact that my end goal is to generate about 12k monthly in passive income. If I BURRR I will have closing costs, which are really a waste of money if I can pull an equity line. Any advice would be much appreciated. Thank you everyone.