Using a HELOC for the down payment on the second home might be an option, but lenders may require you to wait a few months post-closing on the multi-family before approving new loans.The BRRRR-style approach could work if you can renovate and refinance quickly, but make sure the timeline aligns with your lender’s requirements.

They seem to be quickly evolving across the country…but this should be secondary.

A quick formula you can use is your estimated purchase price times .0134. 

Sold it for a profit fairly quickly.

We bought a single family up here last year and converted a garage to an ADU, which rented out really quickly to a great young couple.

Hi David, If building long-term equity and scaling quickly are priorities, then option 2 aligns better for you. 

Platforms like Angi or a quick Google search can also help you find reliable options.

As other people mentioned the areas do change pretty quickly. 

I used a heloc to purchase the first 4 rentals, so $155k of dept is wrapped up In  that until I refinance each property which have already appreciated extremely quickly given the current market. 

I agree with Nathan-you may have gotten rid of most of the mold (which will grow back quickly if any is left), but there is somehow moisture coming in that is allowing it to live.