It seems like you’d get at least an extra $100/mo and it would pay for itself.

Either way...... gotta love The Heights......people will pay that amount to rent .,,,,,, instead of building wealth

I’m almost 65 I have about 3 million in property and am strongly considering finding a non profit I believe in and gifting 2 million to them- you don’t have to pay taxes if you do that but they’ll take 5-10% of sale.

Hello @Sufyan Minhas,What you have in mind is doable.

Keep in mind that I'm in a rural market. 

Many of them have restrictions that you must owner-occupy the property for a minimum number of years - or you'll have to pay it back with interest.Also, the standard mortgage requires you to owner-occupy a property for a minimum of 12 months before renting it out.

Quote from @Jerry Cox: Quote from @Michael Dumler: @Jerry Cox, be mindful of your dates and contingencies within the binding agreement if you go under contract.

Pay them back.

And keep in mind that the rate on the 2nd lien will likely be 10-12% so depending on the cash flow it might not actually yield that much cash to you at closingMore importantly, it's just more debt so ultimately it sounds like you need an income-producing event to actually improve your situation and avoid some of the consequences that you mentioned

I do have some money that I need to pay myself back from my current property from renovations.