Sentiment:  I want to see more people hate real estate. 

As for starting a business, are you looking to start a "real estate" business or "non-real estate" business?

Depends on the bank!

This might depend upon your license, if required.Loan Document Costs: Will you charge for these?

Awesome to see a new investor-minded person here.. do you have a favorite real estate success story already?

A good real estate accountant can save them thousands of dollars by leveraging entity selection and formation, tax deductions, cost segregations, bonus depreciation and tax planning.I recommend that they find a tax accountant who specializes in real estate taxation, business taxation, financial planning and tax planning.I would also recommend that they look for a accountant willing to work with them throughout the year, who can help them strategize and who is responsive when they want to know the consequences of the financial decisions they are making throughout the year.Good luck.

If a HELOC isn’t an option, alternatives like a home equity loan, business line of credit, or a DSCR loan could work depending on your situation.

However, ensure you understand the local tax structure and any potential future changes.Economic Dependence: While Albuquerque has a diversified economy, it's worth noting that government and military jobs play a significant role.

-Depending on your gain above, you could get a partial 121 exclusion and a 1031 on the townhouse.

It really all depends on the amount of risk you want to involve yourselves in.