I bought a cash-flowing, turnkey duplex in my hometown (a market I knew and understood and saw the potential for + have family close by that can help me manage it since i'm OOS).

I'm doing research for a potential Air BnB property in the Covington area.

If you plan to use the remaining HELOC for a DSCR or BRRR strategy, that could help you build more equity, but consider if the current market conditions will lead to higher rates and lower cash flow in the near term.If your goal is to scale, you might consider holding onto your current duplex for the cash flow and focusing on the BRRR/DSCR strategy, which can allow for more control and potentially better long-term returns.

Irrevocable trusts may trigger reassessment unless structured carefully.Gradual Transfers – Transferring less than 50% at a time could potentially avoid reassessment, but IRS step transaction rules could still trigger a tax event.Joint Ownership – Your aunt adds your mother as a co-owner, then your mother adds you later.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

No, it's not a normal business practice and does not pass the smell test.From driving? 

*Energy Efficiency – Given the hot climate, buyers in Phoenix look out for energy-efficient upgrades like new windows, insulation and solar panels.ABSOLVING COSTS & POTENTIAL PROFITSBefore you put down your money for a fix-and-flip, it’s important to run the numbers on all the costs, including:*Purchase Price — The amount of money paid to acquire the property.

Being an agent I knew the market and the potential it had.

For a variety of reasons, including keeping this potential project "need-to-know" only right now, I want to get a ballpark estimate with full understanding that the goal posts could move in either direction as the project gets more discrete. 

So while some opportunities show good potential always take into consideration the downside possibilities.