Avoid premises liability exposure.  

Not saying that those are possibilities but understanding those potential outcome and doing what you can on the front end (screening + clear expectations) to avoid them.  

And keep in mind that the rate on the 2nd lien will likely be 10-12% so depending on the cash flow it might not actually yield that much cash to you at closingMore importantly, it's just more debt so ultimately it sounds like you need an income-producing event to actually improve your situation and avoid some of the consequences that you mentioned

Costco makes great-quality stuff, I try to avoid the huge bottles to seem a little fancier but no need to overspend.  

Quick tips…✅ Everyday Homeowners - track all home improvements as you could qualify for energy efficiency home improvement credit - new exterior windows, new central A/C, new hot water heater, new insulation material.✅ Investors - Keep detailed records of ALL rental property expenses to reduce your taxable income - helping your CPA spot additional tax saving opportunities.Imperative to use a CPA who is well versed in Real Estate tax code.My CPA is just that - DM me to get his contact information....

Again PMI offers the lower rate because its less risky and offers insurance to the bank.So when you sell your current home try and keep as much as possible and avoid an "All Cash" offer.

Send me a DM so we avoid cluttering up Kent's thread, I'll send you the information. 

@Abigail King I invest in several towns in central IL, and am interested in adding some properties in Peoria to my portfolio as well. 

Key Steps Before ProceedingContact the Loan Servicer: They will guide you through the assumption process and confirm whether an entity can participate.Consult an Attorney: If you’re considering title transfers or joint ventures, an attorney familiar with VA loans can help you navigate potential risks.Understand Due-On-Sale Clauses: Ensure any post-assumption changes comply with the loan terms to avoid triggering repayment demands.Final ThoughtsVA loans are a unique and valuable financing tool, but the program’s focus on personal borrowers makes entity-based assumptions unlikely.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!