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I have a HELOC on my Texas primary residence and am considering a house hack for my next purchase.

Hi Jake, the fact that you're a US citizen/resident has absolutely no bearing on the process.

Quote from @Rachel Jane: First post, no idea what I’m doing, lolMy grandfather passed away and left me his condo, which is fully paid off (and located in a seniors residence) It’s worth approx $500,000 (CAD).

After this, we are hoping to pursue more destination-location STRs in Oregon and Washington, and possibly BRRRR LTRs closer to home to diversify a bit.Help me analyze this potential build.

Purchase price: $350,000 Cash invested: $50,000 Sale price: $550,000 I acquired this property in 2015 and used it as my primary residence for two years.

This process has been working really well for me.

When this has me thinking that we also need to be talking about zoning, zoning, zoning.

You could also offer to cover part of their tax liability through negotiation or encourage them to convert the property into their primary residence to use the IRS exclusion for up to $250K/$500K in gains.

I am focused on building capital at the moment since it wouldn't be a primary residence for me, so I want to stay under $300K.