Quote from @Engelo Rumora: Quote from @Michael Smythe: @Sunny Karen let's do a deep dive on this property listed as sold on their website:15095 SORRENTO ST, DETROIT, MI 48227if you do some searching on Zillow, the property does NOT show as sold and the last listing is from 03/17/2020.

(Yes I know there are other restrictions/conditions.)In the past, I have toyed with the idea of a vacation/rental property in Ocean City, MD, Rehoboth/Bethany/Dewy, DE, and/or the Deep Creek Lake, MD area (I like the idea of being within 3 hours of the rental property in case something goes horrible wrong and I need to travel to the property). 

And within these areas, what property types would you recommend diving into for a solid investment?

Happy to jump on a call to dive a little deeper, you can also check out CFRI. net.

Usually you can get a deep discount at a foreclosure auction. 

Stephanie I know I am late to the party but there are certain tax implications with HELOCs, I would make sure you understand those before diving in. 

Keep in mind, when you get ready to sell houses in low-income, el cheapo areas, your only buyer will be another investors who will want a deep discount. 

Don't be so harsh on that CPA :). 1031 is a narrow deep niche that only nerds like me delve in.   

@Patrick UlmerIf you're eyeing real estate to boost your wealth, start with these steps: Dive into learning (read, listen), set clear aims (do you want steady cash, value growth, or both?)

It's hard to give the best responses without diving into the specifics of your portfolio.