Will you use the HELOC as a short-term bridge, or plan to hold it longer?

We also just purchased a house in Oliver, WI that we plan to run as a short-term rental.

Start with the county, zoning, planning commissions etc.

Used houses in the area sell anywhere from $75-125 a square foot.These are long term rentals that I do not plan to sell.I am reading the Rental Property Investing book and implementing the method that focuses on cash flow and that strategy states you need to have $300 cash flow per month, per property.

Dig deep into tax strategy, tax efficiency, etc  Learn about estate planning. 

Hey Nithin, one of my client's closes today on a next gen home that they plan on renting out the separate unit.

The email was short and challenged us by implying we were looking for investing planning and not tax planning.

Or you get the feeling the members think its an obligation to answer them with full details of how we make money in our business's, Like write their bizz plan for them. 

I feel a loss of direction and that makes it really hard for me to focus and build.Do we keep at building a portfolio of small multi family (very abundant in my market, very rare to find anything above a triplex for sale), with plans of selling the portfolio and 1031'ing into larger properties? 

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.