Lastly, land development requires solid planning and capital, so getting the right development loan with flexible terms will be vital for success.

Bulldozed the house and plan to build a new house on lot in the future Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

If you plan to keep your current home as a rental, a home equity loan or HELOC could help fund your new home’s remodel while keeping your low mortgage rate.

But if you want to maximize your deductions now or plan to sell the property soon, then using it now could be better.Also, if you or your spouse qualify as a Real Estate Professional for tax purposes, the losses could offset other income, like your W-2 salary.

Make sure your lender supports your long-term plans, as refinancing early can be tricky with DSCR loans.

We have one property already as our primary home with a plan to buy another house and rent out this one.

The markets investors like you want to live in and invest in are often two totally different places, so don't limit yourself yo a single plan. 

With things like the ONE Linden plan in Linden, which is a 50M plan to improve the neighborhood.

Owner-Builder Construction Loan (Challenging but Possible)Some lenders offer owner-builder loans, but they usually require:✅ Strong financials (good credit, assets, low debt-to-income)✅ A solid construction plan, budget, and timeline✅ Proof of prior experience (renovations help, but formal experience is a plus)✅ A licensed contractor or project manager to sign off on the build2.

We plan on starting renovations on the unit in X (I would say a date but in reality have a 2-3 month buffer), and based on this we are no longer going to be renting the unit out.