@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

You don't have to fit into a traditional "avatar" box to bring valuable insight, so don't sell yourself short. :)This is especially true if you rely on furnishedfinder.com as your primary lead source (which you shouldn't, but that's another post) as when you make that connection with a prospective resident, you are selling yourself as a landlord as much as you are the property as a place to live.

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.

While some reductions might increase short-term costs for investors, a more balanced budget could stabilize inflation and interest rates over time.

If any short term financing, risk adjust upwards another 2% points on the interest rate.3.  

For instance, properties with an accessory dwelling unit (ADU) on the lot that can be implemented as a long-term or short-term rental can perform exceptionally well.

This is platform for professionals and novice investors and you will learn a lot of valuable, hard-earned lessons in a short amount of time.

Short term (12 months), low loan to value with borrowers who have strong credit and significant assets.

@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.

Long story short, any owner-occupied property loan will require the borrower to show income that the lender can determine to be stable and predictable in their good-faith effort to confirm the ability to repay.