Put inherited house's equity to work

[Bobbi Casalino]

Does this make sense:

Take 1,200,000 out of house #1 (100% equity)  QUESTION 1: How? Home Equity Loan? 

Buy House #2 for $1,500,000 on Installment Plan (1,000,000 down, then remaining 500,000= 4,167/mo. x 10 years) ** No Installment Plan treatment. The other 200,000 for reno. This official 3 fam is being used as 2 fam; needs reconstruction. Must add kitchen

2 months reno. Based on comps ARV $2m. Cash out refi

.    Additionally, i can add a floor- a 4th apt. which would add 2500 rental income.  But I know nothing of the laws, costs and time involved. Im sure it's the right move, but I have no idea how to begin.

. My goals are to acquire property (STRs next; asset protection; LLC or SDIRA *if appropriate; strategic tax planning)

.  I will so greatly appreciate your help. Hoping to know if Im on the right track. Please free me from Analysis Paralysis

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