Did you have to jump through so many hoops and provide this level of personal information?

But at the local commercial level, you’ll have a more in depth underwriting review process  

Also HELOC's typically have lower interest rates than personal loans since it is secured by your home.

If they have a good interest rate it might be worth looking to see if you could assume their loan to take advantage of the lower rate.  

This negative equity position is one of many reasons that adding ADUs in a single family zone is not typically a good RE investment.OP whatever you decide to invest in, make sure you do thorough and conservative underwriting. good luck You’re right in that the level of underwriting I presented wasn’t institutional level - but for your average person just starting out, institutional grade analysis often makes the thought of investing overwhelming.

I get a new tenant at a LOWER rent, ALWAYS late, and then ... the septic tank GOES TO HELL

It is somewhat complex to try to explain on a forum, but at a high level, you (aka GP) and your family member (aka LP) would agree on how much the 2 of you would put in for the amount of equity needed (usually expressed as a %).

Hey there.Wondering if anyone can provide some advice on what kind of indicators to look for on a neighborhood level.

Cheap houses in lower class neighborhoods will get you cash flow with a lot of headache.

The Heloc can also pose as a debt obstacle since its an open end mortgage a.k.a credit card.a mortgage is also set up over 30 years so it offers a lower rate and payment.