Thanks John the issue is the seating position.

Originally posted by @Connor Heim:Typically a tax foreclosure is first position lien.

Some risks include:- Declining property values, leaving you with little or no equity.- Rents staying flat while property taxes and insurance increase.- Unexpected expenses that eat into profits.For example, some investors who bought in 2022 at high interest rates expected strong rent growth to cover costs.

I’m interested in the replies as I’m in a similar position.

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.

They should do a cash out refinance or a HELOC when rates go down to tap the equity. 

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.