Also ask, when you submit the plans does the city give a hard time on all the stuff or just a couple things. 

Some other factors to consider - How long are you planning to hold this property?

Maintenance and potential repairs will also require a long-term financial plan and setting aside a contingency fund for such expenses.The steady cash flow, appreciation over time, and tax benefits can make a meaningful difference to your wealth in the long term, especially with the principal paydown on the mortgage.However, if managing the property from a distance feels too burdensome, or if you’d prefer the certainty and flexibility that comes with having less debt (especially given the high mortgage rates), selling and using the $100,000 in equity to reduce your loan for your next home may be the smarter move.

I did a cash out refi on my principal residence at a much lower rate and paid it off.Now I plan on using the equity for more purchases.What? 

If the same client merely invested with a gains plan, or 25% return, they’d end three years with only $43,500, which is $130,500 less than flipping!

It’s a small single-family home in Florida that I plan to BRRRR.

To mitigate these risks:*Have an Alternate Plan – Be ready, if the market slows, to rent out the property.

Good luck with your real estate plan! 

Our calendar fills up fast 9-12 months ahead of time so we have to plan that far ahead.

A hybrid approach could also work—perhaps using a HELOC for reserves while saving the stock portfolio and 401k loan as backup options for future opportunities.