Lets work something out and get a mastermind of as many of us as possible!

How did you find this deal and how did you negotiate it?

@Jessica PriviteraBorn and raised here for 32 years.

Property needed some TLC as it had some termite damage and active infestation at time of move in, got quotes from contractors to replace some studs but all quotes came in too high so ended up doing most of the work on the home myself which meant the home sat vacant until January 2025 at which point i placed on rental sites but still waiting for vacancy to be filled.

Rents are low and prices are high.

I have strong financials and will be doing a >50% down payment for a Condo.

If you end up moving in that direction and putting all the dominos in place, the last thing you want is to get towards the end and have the deal denied because of that.Unfortunately, most GAP funders keep regional to markets and people that they know and they keep them close to the chest.

You could also explore HELOANs instead of HELOCs or consider a second mortgage option if refinancing isn’t ideal.If you need lender recommendations or help finding the best option, DM me and I’ll point you in the right direction!

When it's sold it will be taxed as capital gains tax and may also have some unrecaptured depreciation which is capped at 25% and  recaptured depreciation as well which can be up to your ordinary income tax rate.

You are aware that PadSplit requires you to convert your living and dining rooms into additional bedrooms, right?