After that I transitioned into an acquisitions position where I would underwrite and negotiate investment deals for my company where we were actually the end buyers. 

I was working through the HELOC process since we have quite a lot of equity when I suddenly got denied because 1 of the 5 units is owned by someone who lives overseas and rents out his unit.

Positive!!

Our bank will let us use equity that exceeds 25% across multiple properties that are either owned free and clear or where they hold the first so long as the deal still cash flows with however much cash is brought to the table.

We pride ourselves in keeping the forums positive, helpful, and focused on real estate (please, no politics, religion, etc.).

I’ve been holding since 2020, furnished units for Travel Nurse rentals for 2 years and recently converted one unit to long-term, outcome overall has been positive.

This is an ongoing situation and I’m hopeful that with RTR’s help, this story has a positive ending.TLDR:Property not performing as advertised.

A duplex could be a great compromise that lets you start small, build equity, and learn the ropes while mitigating some of the financial risks.

If I were in your position, I would buy a duplex that has potential for value add, fix it up, live in one unit and rent out the other unit as a medium term rental or long term rental.

You never know how much is LP equity, how much is GP equity (paid up vs sales incentive).