Currently they have 1 person for on site management if anything happens with free rent.I would not pay the premium price.

.• Cash Flow: My goal is to keep total expenses at $600/month or less (including mortgage, taxes, insurance, and property management).• Minimizing Debt: I want to avoid overleveraging and maximize cash flow from the start.• Property Management: Since I’m investing out of state, I’ll be hiring a property manager to handle day-to-day operations. 

I’ve had a handful of STR property owners that are looking to sell. 13 units in total.

I know this would not produce the greatest return, but I am 42YO with younger kids, and that immediate cash flow would really free up options for me and my family. 

On top of that, the deal included not just the house but three total lots, which added even more potential.

I totally understand you taking the HELOC route especially if you don't want to touch the current mortgage rate on your primary residence. 

I make roughly 150k annually but have 200k total in student debt from graduate school.

Plus  2 years free property management.

Start with BiggerPockets Ultimate Beginners Guide (free).

You’re only guaranteed 100% tax free (up to limits) if it’s your primary first and you sell before the 3 year anniversary of it not being your primary home.