I am working with some NJ clients on turnkey investments in the Midwest/midsouth markets currently.

It wasn't the current owner who did this, but 2 owners ago.

Hi Jeanette,What zip code is your current duplex in? 

I currently own a 2 Bedroom / 2 Bathroom Apartment.

I will give you my numbers since we are 3 years into Velocity Banking.Home was purchased at $410k.Interest rate: 3.125%30 year termMortgage payment is around $1950 (includes insurance and property tax)HELOC: 8.25% Variable rate - current rateCredit Limit: $97kLet's say I made $10k a month and our expenses were $6k each month including the mortgage.

I’m weighing two options for our housing situation and would greatly appreciate your advice, given the complexities involved.1.Renovate and Buy Another Property•Invest to renovate our current home adding a bedroom to the house given our family outgrew the house.

Depends on the brokerage you have, but the one we use currently has a rate at 5.83% at 50% LTV.

My husband and I currently have a property in Annapolis, Maryland that was once our home and now turned rental property after we moved.

My wife and I are tied to this area due to being in proximity to family and we currently enjoy a farming/hobby farm lifestyle that is a big part of our family culture.

You are "borrowing" the money and using your current home as collateral.