Midwest has inflated over the past 5 years (as everywhere else), indexed to cost of new construction.

Credit cards have the same limitation on the amount you can borrow and will likely end up costing more than private lenders.

He said it kept the bank from having to execute the eviction process, it salvaged the owners credit by not having a foreclosure on it, and the buyer gets it a much lower cost, because of the leverage of the impending foreclosure.

Ensure you have a solid understanding of the renovation costs and timeline.- **BRRRR (Buy, Rehab, Rent, Refinance, Repeat):** This strategy can be lucrative, but it requires careful planning and execution.

Use tools like the VA loan for house hacking and your Basic Allowance for Housing (BAH) to cover living costs while building equity.

Good points on passing the utilities costs to the tenants and eliminating property management.

Understand the fees involved and calculate the total cost for an entire year of management so you can compare the different managers.

Whether it’s for startup costs, equipment, or marketing, leveraging your home’s value can help bring your entrepreneurial goals to life.Bottom LineWhether you’re thinking about selling, upgrading, or simply want to understand your options, your home equity is a powerful resource.

You would end up saving the higher interest rate on the HELOC as well as closing costs.

Going direct saves you and the seller money, giving you a lower cost to entry which helps all your numbers, but you have to put in the extra work to find that deal.