I would connect with a property manager that is trusted and has experience in the area. 

I'd also learn a lot about maintenance and managing tenants.Then, with my hands-on experience, I could decide if I wanted to repeat the process or target 5+ units - which my experience would help with lenders.Good luck with whatever you decide to do!

@Shawn TumaFrom my experience, you can boost rental income and manage mortgage costs by targeting value-add properties and exploring mid-term, short-term, or room-by-room rentals.

You have the flexibility to show your own units and manage turnovers, etc.I see a couple of nice multi-family properties in your area for sale.

We only ask for a 1-yr commitment to working with us as property managers.

Be sure to factor in management complexity, market research, and your risk tolerance as you evaluate options.Without a W-2, HELOC approval can be tricky, but some lenders will work with retired individuals, mainly if you can document stable income (rental income, retirement funds, etc.).

Investment Info:Other commercial investment investment.Bought the facility in the fall of 2022.

With time management, sourcing materials and learning how to complete task on your own.

Perhaps slightly higher from an alternative lender but definitely not from a credit union and expect much higher fees.Two were Managers in the Mortgage division and the other was a Loan Officer.

That's a real bait and switch scummy thing to do, but I guess I shouldn't be surprised these days. keep in mind this is not usually bait and switch it could be and they are not being scummy.they simply are at the whims of thier senior credit facilities wants and needs..