Assuming they were professionally prepared and compliant with state law, these should define your default interest terms – probably in your note.

Using a Heloc utilizes the equity that is sitting dormant, it provides tax relief (once again check with your tax professional) as it is interest income, you can typically get a reasonable rate andlastly there is no out of pocket money.

I will look at a few factors, rent for area, total mortgage payment with property taxes( which can be crazy in Detroit), investment in neighborhood, I like looking into places where they are building homes and apartments that attract young professionals or families , and also looking at potential to make a single family home into a duplex or something can add an adu or transform a basement to a studio apartment!

I am a busy professional so I have limited spare time.

It’s advisable to consult with a tax professional or financial advisor to determine the most appropriate approach for your circumstances.

@Alex Del Rio welcome and congrats on Real Estate Professional Status (REPS) this brings with it a lot of tax benefits that you didn't have access to before.

Lived in upstairs unit for 3 years, then rented both units out for the next 12 or so years Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Many many many traveling professionals travel solo.

@Katy ToThe BP community welcomes real estate professionals to share experiences, mentorship, and insights.

Seek mentorship and professional advice.Good Luck!