First rental , what should i do

[Karina Rojo]

I currently  have a mobile home on land that my dad gave me . But it needs alot of work . I don’t like the area to live in but i could rent it out . I need money to rehab should i do a heloc on my primary residence ? Any ideas of what to do 

[Jacoby Atako]

Quote from @Karina Rojo:

I currently  have a mobile home on land that my dad gave me . But it needs alot of work . I don’t like the area to live in but i could rent it out . I need money to rehab should i do a heloc on my primary residence ? Any ideas of what to do 

This is a difficult question to answer with no numbers. Things you want to consider would be what your long-term plans are with this property. How much will it cost to renovate? How much will you be able to rent it for? Will you have to how a property manager or are you capable of managing it yourself?  Could you sell it and put that money to better use? 

if you can figure out the answers to these questions you'll be able to determine what you should do