In terms of using home equity, you would either have to take out the money using a Home Equity Line of Credit (HELOC) or you could do a cash-out refinance.

Hey @John FriendasI have purchased 4 of my Co-Living (rent by room) properties with DSCR, 1 of them within the last few months.Not that I necessarily recommend this, but there are short-term-rental DSCR products.

As a newbie to this process and my basic need to understand it all I am trying to do my due diligence prior to jumping in.

I have several different loan products but my most popular one is the new joint venture product that hasn't been out very long.

Property taxes will likely be reassessed based on the transfer value, so confirm local rules to anticipate potential increases.If you hold the property for at least one year, you can use the equity as collateral for a construction loan, aligning with your long-term financing plans.

• Timeline & Scheduling: • How long will the project take?

Why do you think purchase contracts are so long and have such small print?

Real estate investing can be an effective way to build long-term wealth, and among the various strategies, one has gained significant popularity over the years: BRRRR.

I am investing out of state, I am from long island and work in NYC.

If this property is hard to rent, or is functionally obsolescent (only 1 bathroom, no yard, etc), or has deferred maintenance that will be costly, or is in a location that is not appealing to Tenants, then maybe a sale would be a good option in favor of a property that has better Tenant appeal, which will likely increase rent and avoid long vacancies in between Tenants.An option to consider....