This will allow you to remove the person and do the financing on your own.Home Equity Loan/Line of Credit: Since you're looking to access equity, a home equity loan or line of credit (HELOC) can be a good option.

You might decide that you absolutely want to own your own residence there and I assume you can afford it since you already own properties elsewhere, likely in beautiful Hawaï.

It has an awesome job market, which is bringing in a lot of new residents, and that keeps the demand for housing up.

Ironically, these are often the best opportunities to build equity and find great deals.

Capital invested is tied up in Real Estate and we will pull equity to take care of investors.

, but got it done in a way that I built instant equity and cashflow.

We negotiated a deal with the owner for 20% Equity, we are responsible for infilling the community as well as property management (which we also get paid separately for).

We talk about this often on our Real Estate Notes Show.1) If they pay/reinstate2)  If they don't pay and it sells at auction (lose equity)3)  If they don't pay and we take it back.

This defers capital gains and depreciation recapture taxes on the sale of your fourplex.After converting it into your primary residence, you may qualify for the primary residence capital gains exclusion ($250K single/$500K married), but only for appreciation after the conversion; gains from the rental period remain taxable.

I had to get a home equity line for about $20K, which put my first and second mortgage at $153,600.