Both properties have a substantial amount of equity that’s essentially sitting idle.Would it be a good idea to tap into this equity (through a HELOC, cash-out refinance, etc.) to fund future fix-and-flip projects or purchase additional rental properties?

That's a terrible idea.He should either install a smart thermostat that allows him to set limits, or he should remove her from the property.

Also what does the city say is the assessed value of the property on your taxes (it will be different than the appraised value, but should give you an idea).

Limiting leverage, for any loan ever = reducing lender exposure/risk.

Really asking those who have a limited number of properties.

You’ll likely need to look beyond the city limits (in areas that are still close enough to the city to benefit from its local economic tailwinds) if you want to find deals that pencil out.

Alternatively, your sibling might use a 1031 exchange to defer taxes by reinvesting in like-kind properties, though this doesn't directly fund a primary residence.Other ideas include leveraging a HELOC on the rental properties for the down payment, taking out a 401(k) loan, structuring an owner-financed agreement, or a lease-to-own arrangement.

I started off with the standard turbo tax for 1099s and it felt limited.

Earthquake fault zones, flood plains, and high fire hazard areas are off-limits.

@Lillian Pintaro,Birmingham’s a lucrative market—it’s been my stomping ground for nearly 20 years, and you can find some excellent deals if you know what you’re after and dive deep by zip code, neighborhood, and city block.For what it’s worth, we manage 2,000+ units (many for out-of-state investors) mostly in the north and west part of town—so think suburbs outside the city limits like Graysville (35073), Adamsville (35005), Mount Olive (35117), Center Point (35215), and the like.Since you’re also open to the surrounding areas, places like Odenville (to the east) and Tuscaloosa (to the southwest) could be worth checking out.