I'd sit down and ask myself some questions, like how much capital am I willing to put into this endeavor, and I do not mean just one deal cause any deal can lose money. 

You may end up sitting vacant for a month or more, then finally place a renter for $100 less than what you currently get.

Paid 27,500.00 for it cash and let it sit.. mow the grass every few years pay the taxs  350.00 a year.. in 2020 sold for 2.2 million.

Day of signing, tenant goes missing, and never came back, home sits with all his stuff 2 months. 

Your sitting on a Gold Mine!"

Hi Angela,It's so hard to be patient sitting on tons of equity with a low yield but that is the smartest thing you can do right now.

You are inexperienced and nervous about your first “sit”.  

I deposit my paychecks there and for all the time the money would usually sit idle until the bills are paid, the heloc interest calculates daily, so it would be lowered by my deposited income.

We (my wife and I) decided instead of buying a new home and renting our primary we would buy an investment property with the funds instead and just sit tight in our current home in the short term.

Last year, I had a person sitting next to me tell that liens were 100% safe and there was no way to lose money.