Not sure if it is a smart or stupid decision.

Smart. 

Leveraging that asset to finance another deal is smart play, and the townhouse you're eyeing seems like it could be a great addition to your portfolio.When it comes to budgeting for renovations, it's definitely a challenge to nail down accurate estimates, especially when resources might feel a bit outdated or not region-specific.

House hacking is indeed a smart strategy to lower your living expenses and start building your real estate portfolio.

Choosing the BRRRR strategy in Iowa is a smart move to begin your journey.Welcome aboard and best of luck investing! 

These skills can be learned on the mean streets a lot faster than in a classroom, and you'll be street smart instead of book smart.

Given your situation, tapping into the equity through a HELOC could be a smart move, allowing you to access capital for new investments without selling off your current assets.That being said, considering your stable cash flow and existing portfolio, a DSCR loan could also be valuable.

My wife always tells me what looks good and I'm smart enough not to argue.

@Andrew Shumate You sound like a smart guy.

Planning for this scenario doesn't mean you're giving up on finding a resolution—it's just smart property management.You're navigating one of the trickier aspects of property investment with a lot of grace.