Financing is important but your realtor will absolutely be the determining factor whether you purchase correctly or not. 

Also, factor in potential interest rate changes if the HELOC isn’t fixed.

Some other factors to consider - How long are you planning to hold this property?

To do this, they have a team consisting of an inspector, a makelaar, and renovation professionals.However, as Ken M. mentioned, having someone trustworthy there to manage everything would also be a key factor.

However, the suitability of buying and renting out a single-family home in Richmond can depend on various factors, such as market trends, rental demand, and property values (similar case with all markets, really.)Chatting with a local agent in the area can provide very helpful insights into the market, data, and specific neighborhoods.

I’ve been in a similar position where I wanted to scale but equity was a limiting factor.

I could write a whole book on this topic, but this is what came to mind.3) There are a few factors that I consider when picking the city.

That should really be the deciding factor...is it necessary and a large enough project to include the permit process?

Factoring market conditions at the time of refinance, I negotiated a lower rate and conceded a lower term anticipating rates to normalize in the 4%-5% range by 2026.

The high HOA fee is already a factor, so ensure you’re comfortable with the overall carrying costs.Focus on the Land Value: Since the lot has development potential, you’re looking at this as a long-term investment.