It really comes down to running the numbers and seeing which option offers the best balance of costs, monthly payment, and future flexibility.In short, a DSCR loan might work, but it may not be the cheapest or most suitable option if a second-position loan or HELOC can accomplish the same equity pull with fewer costs or better long-term benefits.

Lake side homes are more desirable for short term rentals in this area but not impossible to accomplish.

Greg, first off, congrats on an incredible accomplishment—13 paid-off rentals is no small feat!

I imagine a lot of areas maybe not the majority but a lot are in this same bucket.But like @Pace Jordan Morby mentioned the beauty of real estate is that there are multiple layers dealing in the buddle of rights and ownership so investors will find a way. do keep in mind there are firms that their entire business is to track mortgages like an actuary and rate them to give the servicers and the banks a read on how many loans could be in trouble when they could be in trouble and how much reserves they need. 

But, in the end, a HELOC is great to just have in case that beautiful day comes where I get a great opportunity.

I’d love to hear more about your journey so far—it sounds like you’ve already accomplished a lot!

Yes, there’s still a lot to learn and accomplish.

The $1000/month rate is likely for a fully rehabbed unit which is currently costing me about $5000-$7500 to accomplish.

Thats kind of the beauty of thes exchanges.. you get to reposition your capital, ideally in a property that ticks more of the boxes you need.Now, thinking about older buildings.. some folks underestimate how well older properties can hold up if they’re in a good location.

It is a very well established market with solid, steady revenue, and it is beautiful to visit.