Since you’re considering converting the upper unit into a short-term rental, you may also want to implement strict rules around smoking or strong odors in your house rules to avoid future issues.

The fund raised $200 million in short order with few sources of deal flow 5.

@Jordyn Ohsnot enough info to helpbut if you're using a HELOC for the down payment AND getting a loan, then you're probably negative cash flow given that's 100% leveragei would never do that unless i were going to refinance in the short term

@Stephen FlemingFrom my experience working with over 400 investors, your strategy of leveraging a low mortgage rate, tapping into home equity, and diversifying with a short-term rental (STR) in Northern Michigan is well thought out.

In short, securing an STR permit isn’t easy unless you fulfill all the township’s requirements

Which based on the gnashing of (mostly “frugal” REI) teeth, was the lowest in the industry (for most of you, especially with multiple, active accounts).I have my IRA, HSA, and CESA accounts (more on Solo’s shortly) with Quest.

So, long story short, I would just get an estimate from a firm and go from there.

Short and sweet here: There are no true DSCR HELOCs.

Here is the short of it.Does this look like a good deal? 

We drafted a short-term “use agreement” giving her a couple of months to find a new spot for her outdoor furniture and tools.