Which one is more appealing - continuing to own the house or the security of that much cash/liquidity?

They’re asset-based, meaning the loan is secured by the property itself, and they often have quicker approval times but higher interest rates (think 10–15%) and fees.

I just secured a deal in Solterra which seems to have everything in order regarding rules.

I would look FAR AND WIDE for someone to do an investment property HELOC -OR- go to a bunch of banks and CUs (including who you bank with now) to find someone to provide an unsecured (or secured if you have other collateral) LOC to get rid of the high int debt.

Creative financing options like seller financing or assuming a low-interest FHA loan can also help you secure better terms.

They can identify potential investment opportunities... not to mention all the tenant/landlord laws, eviction process, security deposits, accounting, end of year tax statements etc. lots of pitfalls to be avoided.wish you success in your ventures!

I guarantee you are more likely to secure favorable terms if the seller likes you and can imagine you as a great operator for the business.

Not likely.Maybe some of the tenant acquired their own washers and are using them for cleaning but your dryer for drying.Get a security camera and mount it in the area and post signs saying the same.

Think of all the things that could go wrong and see if the lease addresses them: unauthorized pets or tenants, early termination, security deposit, lease violations, late rent, eviction, lawn maintenance, parking, etc.5.

Many experienced mentors in this group can help guide you in the right direction.I highly recommend saving as much as possible and setting aside a hedge fund for financial security.