Be sure to follow all formalities, such as sending via certified mail if required.Transfer Rent Payments: Notify tenants in writing that rent payments should be made to the new property management company moving forward.

Is my only option a HELOC and can I even get one on this property thats rented.

I agree that is will be a gamble as to how well it will do.Also, ask the owner if they will entertain partial owner financing to keep from dragging family and friends into this risky business venture.Maybe even rent from owner for a year with right to sublease to see how it goes before committing to a purchase.

I like that it’s an all-in-one platform for tenant applications, rent collection, and maintenance requests, which helps keep everything organized.

My aunt wants to do 50/50 on everything including rent.

If they are not paying rent then go through the eviction process as normal.

If you can’t find something with significantly better returns, holding might be your best option.Alternative to sellingIf you’re hesitant to sell but want to improve returns, check if the current rent is at market rate.

If I were in your shoes, I’d look at the BRRRR strategy (Buy, Rehab, Rent, Refinance, Repeat) to stretch your liquidity while building equity and cash flow.

Rents for medium term rentals usually range from 1.5 times to 2 times the normal rent for a place.

Local Investment StrategiesHouse Hacking: Given the affordable entry prices, Albuquerque can be a great place to start house hacking, especially near the university areas.BRRRR: For those familiar with the Buy, Rehab, Rent, Refinance, Repeat method, there are opportunities in Albuquerque to purchase under-valued properties, especially in areas undergoing gentrification.Airbnb/Short Term Rentals: As previously mentioned, the city's rich cultural appeal can make certain properties lucrative for short-term rentals.