Advice on big move(for me) , debating options

[Shawn Adair]

Thank you for taking the time to read and inform. 🙏

I want to move, I have 2200 sqft 4b 3b I want to LEASE current residence. I owe 145k on 176k mortgage 3.275% 30 year. $1080 per month = Taxes + Insurance + Mortgage. $475 per month in expenses repairs capx management lease for $1700.

Im near completion on a total renovation 2 years. I want to get it appraised and I'm hoping it appraises for 235-245k, little higher taxes afterwards . Listing the price at 220k-225k it would sell quickly.

So I think I'll have 80k-100k in equity to use for upcoming move. I want to use 40k-50k for a down payment on a new permanent residence in another state. 40k-50k down on 195k at 5% 951 per month

Keep 20k-30k in this current mortgage.

if possible put another 15k-22k as a down payment on another rental property located in hometown with current residence and family in town.

84k list 3b2b 1100 sqft 16k down payment P&I 363 Taxes $36 Ins $30 = $430 mortgage payment. Rent for $800 - 900 current after repair 1000-1100

Or

117k list 4b2b 1785 sqft 22k down payment, P&I $446 Taxes $50 Ins $40= $536 Mortgage payment.

Potential rent current state 800-900, 1100-1200 after repair.

I think this may be possible do with a Home Equity line of credit.

$500-$1500 closing costs

$50-$65k 4.25%-6.2% apr

$177-$230 per month at 4.25%

$258-$335 per month at 6.25%

Possible rent income per m $2500 - $2900

Rental mortgages per m $1500-$1600

-

$177-$335

Monthly expenses Repairs Capx Management?

Also I want the cheaper rental because my brother is going to be an instant renter make improvements and moving on to the next rental.

Better way to do this? Is this possible?

Thanks for reading that ^

Shawn A