I know this is going to sound insane. I have been wanting to get into real estate for a while. So while at a sheriff's auction, a property came up, that I had viewed on the list, and I thought pull the trigger. You have to take action. In the picture that I viewed of the property, their was 2 houses. One empty, one occupied. I thought I was getting the empty. No, I now own the occupied one. I've tried to sell for cheap, no one is wanting it. So I'm thinking, since I own it out right, should I set up either a lease with an option to buy with the residents, or just charge them rent and take out a mortgage on the property for around 25, and use that to invest? I thought I could do a heloc, but it has to be a primary residence. Any advice from a seasoned investor would be greatly appreciated. Thanks in advance.
