Property is off market purchase at $356k.  

If that area doesn’t align with my objectives, what’s the next town that’s about to “take off?” 

@Brian DolbeareI have never purchased a property with no off-street parking.

You may also want to consider purchasing multi-unit properties and live in one of the units.

Since there is a co-owner, you would have to purchase the property and it is really hard (if not impossible) to pull a HELOC as the basis for the purchase (since it is not your primary residence). 

refinance our own home with some money down + purchase another flip? 

You have used home equity lines of credit to purchase investment rentals and want to know the best way to pay down the HELOCs.Between the two properties you bought, after expenses, you have $250 a month positive cashflow to use.What I like to do is pay down some principal every month with my positive cashflow.I use my extra active income from real estate commissions helping other investors to pay down the principal even more which just frees up that credit for me to use again.I know I can refinance the HELOC debt before it changes to principal and interest as it is just interest only payments as yours are.One difference is the cashflow, I have greater positive cashflow and could make the principal and interest payment in the future with the extra cashflow I already enjoy.I always get HELOCs on my income properties as well after purchasing them to pull out as much of my downpayment as possible.

When running your numbers, if purchasing a home that isn't new construction and less than $1MM, I would estimate 1% - 1.2% of the purchase price as your annual insurance premium. 

This is my first purchase, where my intent was to install recessed lighting all throughout the house.

Hi Community,I am in a position where I can tap into the equity of my primary home to purchase a second investment property.