Anderson, a trusted individual, your corp/llc?

Hello,I have 2 full time STVR Properties that have substantial home equity ($400k each). 

The fact that your fiancé has substantial debt should not stop YOU from investing in real estate IF1.

I didn't owe anything, but I had sold my car to someone who racked up several thousand in parking fines and then promptly disappeared so they tried to flip the charges back on me as I was the only one left with money to collect.I called an attorney who sent them a cease and desist letter along with a warning that they would be liable for substantial damages if they ever contacted me again (and we would sue if they did).

Thanks Nathan, do you have any contacts or info for collection agencies that will take on individual debts?

Saying there are three people living there when only one is on the lease is good to know, but hard to prove; getting video documentation of three people consistently entering/exiting the property substantially alleviates that difficulty.During your due diligence process, you probably obtained a copy of the existing tenant's lease to review.  

Over time, I’ve been quietly absorbing knowledge from the talented individuals here.

Your approach of setting up separate LLCs for each property under a holding company is a common strategy to limit liability and protect the equity of each property individually.

For affordable housing, the average construction cost is generally lower than market-rate projects but still substantial due to various factors such as labor, materials, and compliance with affordable housing regulations.Affordable Housing Construction Cost: The cost to build affordable housing in Oregon ranges between $250 and $350 per square foot as of 2024.

However, if improvements were substantial then indeed a Cash out refi will be your best bet, and depending on your credit score, and cash flow you will be between 75%-80%.