Now the property has been sitting on the market for months.

I haven’t completely dismissed the possibility I can get into some great markets out of state, it’s just the unknown is so great about it, I haven’t given it a ton of thought. 

I personally have been an investor in Chattanooga since 2021 and the market has shown tremendous growth and strength, and I'm super optimistic for the future.

Basically, two choices on the market:1) All-in-one units, typically used in apartments2) Separate units that are stackable - usually higher quality than #1

Im not expert but Ive took out a heloc and dragged on going on my advise and it suckedHi @Mario Morales, There are 2 things I would pay attention to in the scenario you describe. (1) Most cash out loans are limited to 75% -80% LTV meaning you wouldn't be able to get all of your cash back out. (2) The interest rates I see in the market are closer than what you've listed.

Those rates are not as nice as rates we got a few years ago for less than 3%, but in today's market I'll take those rates. 

I've had smooth loans close with Kiavi and I've had rough ones, same with Roc.When Loans start to be troublesome:1) The borrowing entity docs are a mess2) The appraisal numbers are lower than expected3) Messy background reports4) Loans happening in an environment where market/rate fluctuating unpredictably 5) Your loan officer and their team are poor at their job6) Title issues that depend on county docs, that can be slow and painfulThere's more but it's Friday and I'm tired....

There's no precise figure because no one will understand your STR or market as well as you do- or, as well as you will (with time).

and I also rent to voucher holders in the Milwaukee market. 

House hacking can be very rewarding, but at the same time - do your research on surrounding markets - maybe in the Oldsmar/Westchase area you may find something better out in those areas.