In my opinion, you're better off just using a cashout refi and then parking the money in a MMA/HYSA or rolling 30-day treasuries than using these hybrid LOCs.

Again, do not listen to your RE agent's opinion on the matter.

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Interested in hearing more opinions.

That's a win in my opinion and many others.

@Nicholas L.Thank you for the helpful advice, in your opinion what type of repairs/work would be considered major rehabbing? 

Again my personal opinion..

I'm trying to confirm my understanding of a less straight forward capital gains scenario than the one-time purchase and sale most deals involve.Essentially 100% interest in a condo was acquired over time, as each joint tenant passed away, leaving 1 sole tenant who gained full ownership by rights of survivorship.I've gotten differing opinions from different professionals and am trying to understand the calculation of the basis and the final capital gains  tax that would be due myself so I can spot bad advice and understand deals.Assumptions:A condominiumNo depreciation has ever been taken by any owner.No 1031 exchange.No expenses or improvements.

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)