(They both shrink your pool or buyers and combining them really shrinks the pool.)Assuming you don’t plan to do a 1031 exchange you’ll also pay higher taxes if you can’t spread them over two calendar years, but not much. 

Here’s what to consider:Equity Pull: Lenders will generally allow you to cash out a percentage of your property’s appraised value, typically 70%-75% loan-to-value (LTV).If you have $60k in equity, ensure the appraisal supports your valuation.Commercial Loan Terms:Rates may be higher than your FHA loan.Terms are usually shorter (e.g., 5, 7, or 10 years with a balloon payment or amortization up to 25 years).Debt-to-Income Ratio (DTI): Moving the loan into your LLC and using commercial financing will free up your DTI, as the debt will no longer report under your personal name.3.

However, if you do plan on getting a HELOC, you might also want to get a line before moving out since rates are lower and CLTV is a lot higher for primary helocs!

That being said you can make that kind of money with fewer properties but you would need to do more intense work and higher risk Short Term Rentals, co-living, or Section 8.- My Strategy: I'd like to buy and hold residential rental properties.

Brickell has that same kind of potential, but with even higher rent ceilings thanks to its location.A couple of things to keep in mind as you dive in:Financing: As a first-time buyer, you might qualify for low down payment programs.

If you want to go the extra mile, adding something like Netflix or Disney+ is a nice bonus, especially for families or higher-end guests, but it’s not a must.Cable TV?

+1 For Roku with Guest Mode.If higher end I would recommend live TV which can be achieved with Cable (Spectrum for me) app or with something like Sling or Youtube TV

Home prices are a little bit higher than bloomington but so are the rents.

Ok, so I separated this one out (and I just found it) for those with a higher end rental.

Why are U.S. real estate commissions more than 3x higher than in almost any other rich country?