I'm Mohammed Ali Jalloh from New York, passionate about real estate investing for myself and a team.

With a 7% interest rate and a high HOA, it could definitely help your cash flow in the long run, especially if you’re looking for passive income to reinvest later.

With a mortgage the borrower signs a Note and a mortgage creates a lien on the property to secure the debt which must be recorded in the public records to provide notice to third parties. 

The unit is within blocks of Harvard University and a billion other universities are within a few miles.

I used to own a large SFR management company I sold to Evernest in 2019 and I manage a Kroger SC and a set of retail condo suites for a client now but it isn't my thing. 

This will cost money to maintain, cost money to manage leasers, subject you to the will of tenants/leasers should they damage something, should someone get injured, your money will be gone (for now), subject you to the will of the market, interest rates, potential market volatilities.. you will need a lawyer at that amount for sure and a good CPA. 

He believes that area where he will be buying the new homes is going to appreciate and attract more MTRenters, but now, the big difference is that he would now have 3 properties that can go up (or potentially down) in value, go up (or down) in rent, and three times as many vacancies to fill.My back of the napkin assessment is that for only a drop in $200 a month in cash flow, he would control a lot more assets with growth potential and as rents rise over the coming years, the combined rents will increase to a total more than the single rent.HOWEVER.

I talked to my lender contact and, as Kerry mentioned above, it's pretty uncommon that a traditional lender would offer a HELOC product on an investment property (non-primary home). 

It’s in pretty good shape at this point, rentable.I travel a lot for work, and a friend gave me the idea to do a short term rental as a one bedroom, locking all of my stuff in the other bedroom and office - I applied today and was denied because I don’t own both sides of my HPR, even though I have written permission from the owner of the other half….

Patricia,Thank you for a detailed and a very helpful response.