Plan is to purchase a couple homes over the next year.

Maintenance and potential repairs will also require a long-term financial plan and setting aside a contingency fund for such expenses.The steady cash flow, appreciation over time, and tax benefits can make a meaningful difference to your wealth in the long term, especially with the principal paydown on the mortgage.However, if managing the property from a distance feels too burdensome, or if you’d prefer the certainty and flexibility that comes with having less debt (especially given the high mortgage rates), selling and using the $100,000 in equity to reduce your loan for your next home may be the smarter move.

Quote from @Allison Cutlip: Hi all, My boyfriend and I are buying our first home that is a duplex, planning to live in one unit and rent the other side.

I’d love to hear more about your goals and how you’re planning to use your license to grow.Wishing you all the best on this journey—feel free to reach out if you ever want to connect or chat strategy! 

Most will not do 100% loan-to-value so plan on something less than that for the loan amount.2.

If we know where we are going it's easy to make a plan. 

Did you plan to rent this or live-in flip with the intent to sell?

We closed on our first property on November 15 and plan to employ the fix-and-flip strategy. 

You also need a detailed explanation of each cost item to solidify a clear scope of work for that specific task.Experienced general contractors provide computerized plans to show the current existing conditions and the proposed final floor plan.

However, the tax treatment differs between short-term and long-term rentals:Short-Term Rentals (STRs): If you materially participate (work 100+ hours and more than anyone else on the property), you may be able to offset rental deductions against W-2 or other active income, offering greater tax benefits.Long-Term Rentals (LTRs): If your AGI exceeds $100K, your rental losses may be limited, unless you qualify as a Real Estate Professional (REPS).If you plan to expand your rental portfolio, consider an LLC later for liability protection and easier management.