I think we have the option of taking out a heloc  and begin to invest elsewhere.The other idea , that I was thinking is paying off our primary residence which we owe 425k.

Here's how they break down:Fannie Mae HomestyleMinimum Down Payment: 3%-5% (Primary Residence) & 20% Down (Investment/Second Home)Credit Score: 620Minimum Loan Amount: $50,000Maximum Loan Amount: Per County Loan LimitsOccupancy Types: Primary Residence, Second Homes, and Investment PropertiesUnit Maximum: 4 UnitsAcceptable Renovations:-Structural Improvements (e.g., new roofing, foundation repairs)-Cosmetic Enhancements (e.g., new flooring, updated bathroom/kitchen fixtures)-Energy Efficiency Upgrades (e.g., solar panels)-Accessibility Modifications (e.g., ramps, widened doorways)-Luxury Items (e.g., pool)-LandscapingNot Acceptable Renovations:-Commercial Use (e.g., turning a residential property into a commercial property)-Temporary Structures-Non-Residential Buildings (e.g., barns, stables)FHA 203(k)Minimum Down Payment: 3.5%Minimum Credit Score: 620Minimum Loan Amount: $50,000Maximum Loan Amount: $524,225Occupancy Types: Primary Residence ONLYUnit Maximum: 4 UnitsAcceptable Renovations:-Structural Improvements/Reconstruction (e.g., adding rooms, bathrooms)-Cosmetic Enhancements-Eliminate Health and Safety Hazards-Energy Efficiency Improvements-Major Landscaping (e.g., grading, tree removal, adding walkways)Non-Acceptable Renovations:-Luxury Items-Commercial Use-Temporary Structures-Non-Residential BuildingsBoth of these renovation loans are similar in many ways, but the key differences are:1.

Right now I have a kid in college and my primary income wouldn’t be any help.

The only other advice that I would give is if your primary motivation is to save on taxes, don't do it.

If the other two parties want to flip a house maybe they can do just that as partners and then sell you the house which you can buy with a primary home loan with low down payment.

Second, Texas also allows Texas homeowners to do cash-out refinance their primary residence.

My primary residence is an apartment I rent in Brooklyn NY.

Quote from @Lisa Albright: Hi All,Newbie here, just a quick question we are building an addition on our second home, we have a primary residence, and two rental properties.

Clearly, they failed in their primary responsibility to you as their layer of due diligence was a mere gossamer like patina.

Hey @Brett RiemensniderThere are a TON of banks/credit unions that will offer as low as Prime on a heloc on your primary residence.