Since we will be investing remotely, we plan to work with a property management company to oversee day-to-day operations.Does this sound like a solid strategy for a first investment property?

The plan was to house hack the house by setting up the third bedroom as a studio apartment with its own bathroom and walk-in closet.

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.

But I definitely plan to get more quotes.

Also, the turnover will be much lower, but maintenance costs might shift too, so it's good to plan for that.Happy to connect if you need more tips!

Mortgage Balance: $430,000 Monthly Mortgage Payment: $3,100 Current Rent: $4,100/month (below market rate, planning to gradually adjust it during yearly renewal to eventually catch up to the market rate) Appraised Value: $900,000 (purchased for $657,000 8 yrs ago) Managed by a property manager Loan assumableProperty B: Located in VA.

Are you looking at turn-key investment or do you plan to purchase and rehab?

I plan to hodl for the long term

Would love to connect and hear about how your house hack is going and what your next plan of action is.

I have from time to time spoken with the city administrator, economic developer, & a person at building planning commission.