Whether you're diving into BRRRRs, flips, buy-and-holds, or turnkey properties, my team and I are here to ensure your success.What sets us apart?

If I were to look for other funding I’d look for an investor with a set return.

Sights are set on all types of REI, but this will be a great start for us.I have been in the mortgage business for over 20 years.

With the HELOCs now set, we are curious as the best way to approach getting pre-approved for our first property while we search for the right fit.

At that time we could renovate the ground floor apartment and potentially turn it into (2) apartments for a total of (5).My questions come down to how do we deal with the existing 40k mortgage, whether we can make it work so her parents aren't paying much in rent, if anything at all, and whether or not we set up any legal entity, like a trust to help the legal situation of paying off her sister down the road. 

I mean I highly doubt( but sure there will be other who say otherwise just because) you will find a very good investment property listed on MLS or other publically available service.On a side note if I did have aprroximatley 400k equity in two of my homes could I use any of that to invest in another property?

If no mortgage and/or if the mortgage and the lease doesn't restrict assignment, then you can set up an LLC, warranty deed the property to it, and assign the lease.

@Grant ShipmanIn my experience with these units are very difficult to manage and people at the 30% level also create a new set of problems.

A phone call will answer all the questions or a quick visit is better, set an appt. 

For anyone wanting to learn, we have opportunities to work with us and learn the ins and outs of how to to set up and run MTRs at scale.