Hi Will in Chicago-Congratulations on having a paid off rental with 500K in equity.You are wondering what options may be available to put that equity to work and you are not interested in buying another traditional rental.One suggestion I would offer is to put some of the equity to work by becoming a private money lender partnering with an investor that would split the profits with you on short-term projects.You could turn that money over and over into the next project getting a higher return than the trapped equity and getting a lien position on the project property to protect your downside investing in a fairly passive way.To Your Success!

DO you want to do mid-term rental to traveling nurses?

That is one of my moves is to report Baselane to FTC for such fradulent practices, despite covered in footnotes in terms and conditions.

There is a distinct difference in the law between short term and long term rentals. 

It is mostly investors in and around the atlanta metro doing everything from Short TErm Rentals to househacks to longterm rentals to fix and flip. 

If I have several options, I would prefer a HELOC with no initial draw requirements (i.e. to establish a literal line of credit that I have no specific short term plans to use), i.e. not something like the better.com HELOC. 

How Energy-Efficient Windows Can Save You Money" – Educate about long-term savings."

So the question is whether your house is a good rental investment long term.

In terms of finding a property that "works," I think you are absolutely right, there are probably better markets with more reliable cash flow.

.): ~$1600Savings available: ~15-20% of the purchase priceCash to close: ~$34kRehab estimate: ~$34kRemaining reserves: ~$20-25kTo fully fund the rehab, I’d need to come up with an additional ~$15k in the short term, which I anticipate paying back quickly once the rental portion is generating income.