HELOCs are usually variable rate and there may be yearly fees associated with maintaining the HELOC.

In most cases, I don't recommend renting out your primary residence especially if you have no rental experience and that is because usually your primary residence was bought without the idea of renting it out.  

======================================================by John M Hyre III8/1/2024With regard to Quest:I am rushed (as usual) and haven’t the time to write.

I also didn’t have direct access to him, so if I needed immediate counsel on how to handle a situation, I had to email him and wait to get a response usually a few days later, and by then the deal was already mishandled.

Just be extra conservative with your ARV estimates and have a great team of contractors to keep rehab costs in check.

Usually between 5-7%.

The important things to consider about HOA fees is that they usually include some utilities: Water/Sewer, Trash, sometimes shared amenities like gym, clubhouse, pool, and they are saving you the time and headache for property maintenance: lawn care, tree timing, roof, siding, etc.

Hey, if you get married you'll be able to shield an extra $250k in capital gains!!

A follow up question I now have would be do you think its smarter to completely pay off the first property before buying a new property or to keep going out and buying new properties once i have enough saved up for the down payment along with extra fees?

I am making completely passive cash, while also seeing the value of my portfolio increase with no headaches or management responsibilities that usually come from SFR ownership.