Subsequently, after establishing a balanced relationship with the tenant, you can consider making upgrades to the landlord's apartment,as a sidenote: Should any usable items be removed during renovations, offering them to the tenant can foster goodwill and enhance the tenant-landlord relationship.

I'm not as creative as some with funding sources and haven't established access to the private funding others have (yet... hopefully)... so for me, at present, cash for future down payments is key.

Here are some considerations for each option:Option 1: Using the HELOC for a down payment and renovation on a second property to rent:Pros:You can leverage your existing property to acquire another investment property without selling your current home.Rental properties can provide a steady income stream and potential long-term appreciation.You can use the HELOC funds for renovation, which can increase the property value and rental income.Cons:You'll have to manage the property yourself or hire a property manager, which can be time-consuming and add to your expenses.There is a risk of vacancies or unexpected maintenance costs, which could impact your cash flow.You'll have to pay back the HELOC, which will increase your monthly expenses.Option 2: Building a new house in a new community and selling it for a profit:Pros:You can potentially make a significant profit if the market is favorable and the property value increases during the construction period.Building a new house allows you to customize the property and potentially attract more buyers or higher rents.Cons:This strategy involves a higher level of risk, as you're betting on the market to appreciate in a relatively short period.There are many unknowns and potential delays in the construction process, which could impact your timeline and profitability.You'll need to have a good understanding of the local real estate market and construction costs to ensure that your project is profitable.Before choosing either of these strategies, consider the following:Research the local market conditions in Chandler, Arizona, to understand the current demand for rental properties and new construction homes.Consult with a real estate agent or investment advisor who has experience in the local market to get their insights on the best strategy for your situation.Evaluate your financial situation, including your income, expenses, and risk tolerance, to determine if either strategy aligns with your goals and financial capacity.Consider the tax implications of each option, as this can impact your overall profitability.Create a detailed financial plan for each option, including projected income, expenses, and potential risks, to help you make an informed decision.Ultimately, the best strategy for you will depend on your unique situation and goals.

Establish interest reserve for each loan so there are no non performing loans to report2.

Establish your criteria, such as location, spending limit, kind of home, amenities, and possible rental revenue, in order to choose the ideal property.

Though not cash-flow positive yet, we're building equity.Now, we're considering out-of-state investments, but only after establishing a home base first.

Overall low interest rate relative to other similar lending products.Business Credit Card - A great way to start establishing your business credit.

If no line of credit is established, I would personally go closer to 6 months.However, if someone would rather purchase rental properties (instead of house hacking) I think it depends on goals.

If you have a preference paying 0 points, you will need to establish a relationship with a commercial bank that is a perfect fit for your investing track record and background.

We're very familiar with the area, and I likely know the establishment you're referencing.