You’re asking the right questions, and it’s great to see you thinking strategically.My Take on Your SituationSince you already own a rental and want to expand your portfolio, your main decision points are:1.How to pull equity to fund your next deal2.Whether to transfer your current rental into an LLC3.How to position yourself for long-term growthHere’s how I’d approach it:HELOC vs.

The FHA 203(k) loan is designed for owner-occupied fixer-uppers!

This will provide some amazing long term appreciation!

Using the 203k or now the HomeStyle loan you can buy a fixer upper and get all the money to renovate. 

He was in for a surprise when he realized the tenant mix included long-term renters paying well below market.

And over the long run, that area is one of the best areas in the country for long term growth. 

However, the fact that your tenant intends to pay $800 through the app while their rent is $1,200 raises questions, it’s worth clarifying whether they plan to pay the remaining $400 separately and how that affects both of you.Before signing up, consider reviewing the app’s terms, checking online reviews, and confirming how quickly payments are processed to your account.

In some instances the estimate may be less important but rarely if ever do I not see a requirement for no appraisal unless the value is 4x the loan amount.

Has anyone have any experience acquiring multifamily property using a SBA loan like to get your thoughts?

If this is a long term hold you'll want to have finishes that match comps, but are also still very durable for tenants.