I cant comment on the local markets, etc, but I would choose Cleveland for the simple fact you live there.

A HELOC is probably going to be at least 8% right now, so would you be making more than that on your money if you choose to take out a HELOC to fund the work?

Are you comfortable analyzing ARVs, purchase price, 70% rule, rehab costs, holding costs, etc

The high HOA fee is already a factor, so ensure you’re comfortable with the overall carrying costs.Focus on the Land Value: Since the lot has development potential, you’re looking at this as a long-term investment.

I pushed back on the idea of an up front transaction fee of 10K and told him that I'd be happy to pay a transaction fee at closing, but wouldn't feel comfortable paying 10K without it being tied to an acquisition.

It does however give you a degree of independence to choose what you want to do.As your portfolio grows you'll also feel the weight of future capex responsibility more, which ironically points you to growing more cash flow through more real estate.The other issue is that you are chasing a moving goalpost.

I choose not to contribute to your loss.Best.

I feel like having such a low payment and rate make it stupid to choose selling the house, but since I haven't been in this position before, I thought I'd ask here. to d The other consideration you would want to consider is your VA entitlement if you are hoping to buy the next house with a VA loan.

Get out of your comfort zone.

Yearly bank fees for each, aka choose your bank wisely.