(i.e. initial decorating and painting, bookings, rate structures, marketing, bookkeeping housekeeping, etc)? 

Most Heloc rates right now are around 7.75% to 10% so if you look at your blended rate between your fist and Heloc you would be better off doing a cash out refinance.A lot of people forget or simply do not know that if you do a cash out refinance the rate does go up but in 12 to 24 months if you do a "rate and term" refinance you can get it back down fairly close to where it was at prior.

@Tom Rairdon If you’ve owned your short-term rental (STR) for over a year, it likely qualifies for long-term capital gains (LTCG) treatment, taxed at lower rates (0%-20%) compared to your 33% ordinary income bracket.

@Elias Halvorson the poster actually lives in another country.The pinned Cleveland, OH reference is just what they entered based upon this post:)

Pick a lane based on your strengths and long-term goals.

As another poster mentioned rates are lower than they've been in the previous 18+ months but unless some very surprising economic data comes out between now and when you did your refi it seems unlikely that rates are going up in the short term and there is at least a decent chance that rates drop a little more before then. 

For any of these real estate funds that have guaranteed rates of returns for set periods I would want to understand how my investment is secured.

If what we are feeling is accurate, the January data should show substantial increase in buyer demand.Jan 1, 2020 to Jan 1, 2025 InventoryWhile interest rates remain high, the demand from buyers is still strong.

Personally I would want to manage the rental myself at least in the beginning to make sure you get good ratings.

Hi Samir, I'm based in Texas myself.