Tenant pays all utilities but garbage.

I plan on demolishing & doing ground up construction, with common areas including garden beds, light workout area & gathering space . 

Hi Sherrie, There may be a few routes for you to best utilize the equity in your current home. 

Is some of it for common areas? 

We usually stick to either refinishing the oak floors, which are very common in our 1960s Milwaukee housing stock, or quality LVP and LVT - especially for kitchens and bathrooms.

Common sense stuff ;-)

also open to attorney recs who could help us with this This is pretty common, there would be a loan agreement and then a deed of trust in virginia and a mortgage recorded in florida.

Have any investors here utilized such funding methods?

I haven't done this as this is going to be my very first property, please feel free to ask any questions:Potential Rental Income: $1000/- month (Right now through housing, but rent is due for increase)Taxes: $2600/-Utilities Water/Sewer: $800/- (Rest of the utilities are paid by tenant)Purchase Price: $124,900/-

Most investors and agents are too scared to negotiate, I bought the home on over an acre for 300k.I like to take a net approach where I utilize as many sources as possible to find deals.