You’re in a great position with a property that’s appreciated significantly, a low-interest mortgage, and clear goals to boost cash flow and transition into full-time investing.

The most important rule is to have the cash flow of the new property be able to pay all its expenses, mortgage, AND the line of credit back.

They build, you do a standard FHA mortgage at closing once the home is completed. 

I can assist with the real estate side of things - and probably the mortgage side too.

They acquired the exiting LLC and mortgage.

If the property requires rehab, the Realtor and/ or Mortgage Broker will suggest applying, for a FHA 203k Loan.

Living in one unit and renting out the others allows you to deduct 75% of expenses like mortgage interest, property taxes, insurance, and shared repairs as rental expenses, while the remaining 25% applies to personal use.

For the property I purchase, I’d like to keep my monthly mortgage payments at $2,000 or less.I prefer a turn-key property since this is my first rental, and I want to start generating monthly cash flow immediately without the delay of repairs or managing two mortgages.

Jung,Welcome to the BP forum its a great time to start as mortgage rates fall and home prices still priced well in many states.

Im currently in the process of getting it rolled into an actual mortgage since these are rentals.