Soon I'll be purchasing my first ever investment property (Virginia) (MFH) and I honestly feel like I made a mistake.

I'd start the refinance process right away, or just pay it off, or sell. 

Purchase price: $250,000 Cash invested: $50,000 Primary house hack.

Purchase price: $232,500 Cash invested: $45,000 Newly renovated SFR in Shore Acres, St.

For experienced investors who have done 5+ similar rehab projects, I can lend up to 100% of the purchase price and 100% of the rehab on light 1-4 unit rehabs. 

I know this is above and beyond what most municipalities require, but being fair will make the whole process easier.Additionally, a new landlord can reduce the 60-90-day notice by offering more moving assistance (cash and/or labor) if they move sooner rather than later.

It's been 2.5 years since I purchased my first property and now that everything in my personal life has slowed down I'm back on the horse and ready to find my next investment.

The purchase price of this property was only $170K. 

For first flips better to start with a  small cosmetic rehab  until you get to know the process and the team well.

I am looking into purchasing a second (vacation) home and would love to hear your thought on the pros and cons of going a conventional 30-year second mortgage vs. using a HELOC or Home Equity Loan on my Primary Residence to purchase the second home outright.