You could also get a line of credit for about $150k (you should be able to borrow 75% of the value.)The reason I suggest this is…1) you save $40-$60k in selling costs. 2) you have a lower blended interest rate (2/3rds at 3.25% and 1/3rd at 7 or 8% instead of the whole $500k at 7 or 8%) saving you another $1k/mo in interest. 3) you only pay interest on that $150k when you actually use it, not from day 1  Unless you hate this property, or want to buy something you can’t afford without selling, that would be my plan.

I'm working with a company who owns a small, 19 unit, senior and low income apartment building.

Low vacancy rates, rising rents, and high tenant demand for more space/good school districts. 

Credit Union, Brokers, Banks (all have different advantage & disadvantages). 

To access your home equity without selling, you can explore options like a home equity loan, a line of credit (HELOC), or a cash-out refinance.

If you had good credit (670-730 range), you have 20% to make a down payment, and sufficient income to qualify for the home you want to purchase - Would you choose the FIRST-TIME HOME BUYER or CONVENTIONAL purchase option...which would you pick and WHY?

Note the property tax will be -10% on the rent by itself.Month 0 to 24: $2450 * 0.5 - $1573 =-$348/monthMonth 24 to 60: $2450 * 0.5 - $1541 =-$316/monthNext issue is due to the low leverage starting at month 24, the ROI takes a beating.  

It allows you to take advantage of a low down payment loan.

For a cash out refi, you are generally limited to 75% LTV and rates right now are in the mid 7s for good credit and a DSCR over 1.0. 

Eviction History: No prior evictions are permitted.Requirements to consider: Background and Credit Check: A clear background and credit check is required.