This would obviously reduce my cash flow on both properties, as I would be paying the minimum HELOC payment plus extra towards the principal to pay it off quickly.

Using a 1031 to upgrade to a two-family could help you reduce or eliminate the $1,000 out-of-pocket expense you’re paying now.Also, condos often come with HOA fees that limit cash flow, so be mindful of their impact.

Not only low-flow, the flushing mechanism reduces the likelihood of clogs.  

Over time, as property values increase, your wealth grows.Tax Benefits: Rental properties offer tax advantages such as depreciation and mortgage interest deductions, which can help reduce your overall tax liability.Scalability: Once you’ve mastered the BRRRR method, it becomes easier to replicate.

Originally posted by @David Dachtera:@Eric Jones*THAT* is what mortgage acceleration is all about: Reducing the total interest paid while reducing the number of payments. 

Proper documentation ensures you’re prepared to substantiate your claims.Federal REP or STR material participation allows you to deduct rental losses against active income, significantly reducing your tax liability.

Some programs will do the full LTV that a long term rental would have and some lenders will reduce the LTV by 5%.

Is there a way to reduce the amount of hours so you have more time for other activities?

Let’s break it down and explore how you might approach this idea, the challenges you could face, and ways to structure a deal that could work for both you and the landlord.Why the Landlord Might Be Open to SellingThey’ve moved out of state for health reasons and don’t have family nearby anymore, which might reduce their emotional attachment to the property.The idea of simplifying their life and pursuing something like sailing around the world suggests they could be open to letting go of the property if it helps them achieve their goals.With significant equity or potentially owning the property outright, selling could provide them with a substantial cash windfall to fund their future plans.However, their belongings on the property could signal hesitation to let go or simply a logistical barrier they haven’t addressed yet.

After selling one and using a 1031 exchange to buy a fourplex in Chicago, he reduced his interest burden by 20% while boosting his net incomes by $1,500 per month.