The $200k financing would serve as a purpose to be a downpayment, or do you want the $200k to be the top limit of the investment?

Your income isn't high enough for it to make sense as a rental and the closer you get to your residence limit the greater pressure you will have to sell it before losing your exclusion in whole or part. 500k right now can make $15k per year income with zero maintenance or tenant risks. 

We’re working in a smaller market like Cornelia, GA, where comparable sales data can be limited, and want to make sure we present a strong case to lenders.

Hey @Eli Edwards,In my limited experience New Western, and any other larger company who is geared towards wholesaling properties, generally doesn't leave much on the bone for the end buyer. 

Some banks and lenders will calculate your Heloc payment based on the Max limit even if you only have a small portion used due to preventive risk. 

Leverage the Power of LLCsEstablishing a Limited Liability Company (LLC) for your real estate investments can offer both legal protection and tax benefits.

This unique blend of economic opportunity and lifestyle appeal positions these cities as prime locations for both investment and personal residence.You mentioned Roan Mountain and Watauga Lake.. both are fantastic draws.

You've listed the "big three", and those are all that are needed for most MTRs, especially if you have a limited number of doors in an area.

You can really pick where you want to be on the "comfortability to profitability" scale here where I felt like those options in most markets were limited. 3) it's a great place to live all-around.

We have offered to allow her to pay a reduced rent for the first few months as well but I am worried that may create some sort of limit on how much we can raise the rent on her in the future.