To me at my current knowledge level, this deal only works if taking over the loan - to limit the out of pocket money to acquire the property since the outside reno and new septic would take up the bulk of rehab costs. 

Quote from @Adedotun Kembi: Quote from @Jeff Roth: Hi Holly from Georgia-You own a rental in Colorado and you are looking to purchase a new primary residence and possibly use the equity in the rental for the downpayment.You have two options I am aware of with the rental to access the equity:1.

It may pencil out if you're building an extra unit, but just a single bedroom is not going to work.

Seconding what @Max Wilhite said, Multi-Family is a great way to get started.

Patience is a virtue that may be worth practicing.  

I used my house hacking here in Los Angeles and utilized the equity to buy out of state.

Just want to know your takeaway before implementation in my website.

Many hosts have success with a mix of RVs, tiny homes, and prefab cabins to attract different types of guests.

Hi Grant, welcome to BP.

Did you give her written permission to store personal items outside in a common area?