this is the distinct different between being an actual lender like a bank .. and an investor in a fund.. two very separate transactions.. when you lend and receive collateral on the asset you get paid when it pays off or the borrower refinances etc. 

LOne common strategy is doing a cash-out refinance on one of your rental properties to tap into the equity.

You don't need to know everything to get started; you need a foundation to build on, and the rest will come through experience and then refining your education.You can build a basic understanding of investing in 3-6 months.

Purchase Terms: Clearly outline the terms for your brother to purchase the property from you, including the timeline and price.To minimize the financial burden on your HELOC, refinance the property into a traditional mortgage as soon as possible.                                                                                           

They can help refine your repair estimates and ensure your assumptions are realistic.

If your rate is higher than institutional rates - they'll be incentivized to refinance when possible. 

I’m wondering if we don’t pull permits for the breezeway addition when we go to refinance will we be able to include it as heated and cooled sqft.

You can still achieve it, but finding deals that actually pencil out on all criteria (low enough purchase price, low enough renovation cost, cash flows on the backend, all cash out at refinance) is pretty hard.

Using a HELOC for the down payment on the second home might be an option, but lenders may require you to wait a few months post-closing on the multi-family before approving new loans.The BRRRR-style approach could work if you can renovate and refinance quickly, but make sure the timeline aligns with your lender’s requirements.

.: @Colleen A LevittYou can always pay off or refinance the loan.