This is an essential tool for anyone buying a tenant-occupied property.

BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators7.

Try playing around with the “Find Deals” tool and go to the advanced settings tab.

This is an essential tool for anyone buying a tenant-occupied property.

Consider hiring a property manager next time if not just because they have the tools and processes to reduce the risk of this and move quickly to execute on a problem.

@Maciej Girek  So it is essentially a studio with two means of egress , the window and the door.

You can, ofc, record the depreciation once taken so the books are accurate, but it's a lousy tool for figuring out what the depreciation should be (or, providing your accountant with the relevant info so they can do it).What tools is everyone using for this?

BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators7.

BP has various tools to help you analyze your deals (rentals, flips, wholesale, etc). : https://www.biggerpockets.com/investment-calculators7.

There is much more nuance to investing than just HELOC vs cashout and I think investors miss a lot of the finer details and often select the wrong tool for their objectives.