HELOC= short term useFixed (first or second) = long term use like a down payment.  

@Tom Dieringer After purchasing my first property in 2024, I acquired most of my short-term rental (STR) knowledge from The Short Term Shop, which included maintaining respectful communication with guests, keeping calendar availability up-to-date, and ensuring high-quality listings.When I initially began May of 2024, I opted to list my property exclusively on a single Online Travel Agency (OTA) - Vrbo.

Something more passive via a syndication could work for them, and otherwise they'd probably prefer something simple like a long term single family rental. 

Secondly, I'd chat with a realtor and get some recs on lenders to truly see what you're working with in terms of buying power.

I have found there to be a real shortage of long-term rentals in Ludlow and the surrounding area.  

I would use an experienced broker who can shop around and help you compare best terms on a National basis.

I am here to create a business strategy that protects personal and business investments and mitigates risk,  procure a coach or mentor, and set up tax strategies to create long-term wealth for myself and my family. 

Here's the breakdown:Financing: We used a seller carry deal with 25% down ($100k), a 30-year term (balloon in 10 years), and a 4.68% interest rate.

I borrowed more money and built a new detail shop; no more crummy landlord!

I do generally agree with the sentiment of Austin and the other hosts that fundamentals will always win out in the long run, and this by nature is a long term industry, even the sales side I'm learning.