Before getting into commercial real estate about 15 years ago I was in the food business in all facets so know it well.

There are so many facets to real estate it's important to do your research and make a decision on which path is best for you.

Property investors meet many facets of the housing industry, including: Real estate agentsProperty managersMortgage brokersAttorneysAccountantsContractorsHome inspectorsYou never know where the next lead could come from, so get out and meet as many people as you can.

Thanks Rachel Pervis !

I have 12 years of plumbing/electrical experience, and I know many facets of residential remodeling. 

Kyle - if you want to determine if  conventional financing is  possible for you at this time ...I would recommend connecting with a loan person to get a formal  pre approval  in place  for any scenario you  care to work with  ...this  process is free and  help analyze credit / asset/ income / employment  and   if  you aren't able to  get pre approved at this time - you can  then be aware of any  facet you  will need to  work on ….thanks

if he is a member of the LLC I'm not sure a 1099 would work...just some other facets of your arrangement to think about.

I’m currently still in the educational process as far as real estate goes and I’m not quite sure which facet of real estate I want to start out with.

In our case, though, the HELOC required us to take out a minimum amount ($25k) right away, so approval started the clock and we were paying interest and needed to be ready in all other facets, to not waste time once down payments was out of the way.Happy to chat more offline if it helps, or can send you lenders I worked with in this area.

But if you roll your equity into your home, it's alternative cost will the your new mortgage %%.So, this way your $195Kwill be working with your new mortgage rate while it could be paid off by your tenants and get sold when market is very high again.Tenants usually complains about everyday problems: A/C doesn't work, toilet clogged, facet is not working.All these cracks etc - it's the owners problem and Tenants seldom worry about that.Bottom line: I'd use $195K in investment property if it gives you more return than new current mortgage rate.But you have to factor PM even if your wife does it for free.If the ROI is less than the rate - sell it and pay less in your mortgage.ps I think using leverage will get you to your goal quicker than paying off all mortgages....but each their own