I want to make a smart decision and take advantage of the market conditions.

You also have $30k in unreimbursed expenses.If you are smart, you pay off the HELOC and reimburse $25k in expenses.

Peeling paint, inside or outside, handrails on stairs over 2 steps, broken glass, working electric and plumbing and operational heat source. 

He is not a guru - just a good solid very smart RE investor who loves to work with people who can benefit from his guidance.

Building an ADUBuilding an ADU at your family member’s place is a smart move.

Matt, any strategy can be smart or a good idea as long as you understand and are ok with the risks.Going out of state is higher risk than staying in your local market.

Waiting for rate drops is not my idea of playing the game in a smart manner. 

Living in it for a year and then renting it out could be a smart move to build equity and gain rental experience without the major rehab headaches.

Such a smart use of time.

But I heard a podcast from Tax Smart Real Estate Investors (link below) on house hacking which notes that if part of the residence is used exclusively for STR, section 280A loss limitations shouldn’t apply.