What you would want to evaluate is the income generated from the income-producing property(s) to see if the income from your rentals would cover the cost of your new HELOC payment.

What are your tips on finding and evaluating areas to purchase?

Should I re evaluate what strategy I should use and maybe look further out in places such as Rochester and BRRR properties out thereHey @Jared Leggett, I know I'm jumping in here late in the game, and I have to admit that I haven't read all the many comments you've gotten, but I wanted to provide what I imagine and glean is a contrary view.It is easy to dunk on NYC for young investors starting out, but if you are a first time homebuyer you can buy a $1M property with $35k down (+ closing costs which can be avoided with seller's concessions).

It is not tax advice for your situation, which I have no way of evaluating.

I'd also recommend diving into books, podcasts, and even attending real estate events to start learning more.Here:Learn the Basics: Study property types, financing, and market trends.Network: Attend events, connect with pros, and build relationships.Find a Mentor: Seek guidance from someone experienced in commercial real estate.Start Small: Look at smaller deals or partnerships to get your feet wet.Take Action: Once ready, start evaluating deals and making offers.

So I pretty much want to find someone who can just evaluate my properties with data and experience and tell me what to do, like a consultant.I did the pitch for the BNB Investor Academy, currently $12k btw, and I was a little bummed because it seems like more of a school, and when I messaged Michael on IG he said it wasn't a school and that I should sit through the pitch. 

Specifically, I'm interested in hearing your recommendations for:- Deal sourcing and lead generation- Cold calling and outreach- Deal analysis and ARV calculations- Estimating rehab costs- Tools or calculators you use to determine whether a flip is worth pursuingFor deal finding, I’m currently evaluating PropStream and Flipster as a beginner.

What are your tips on finding and evaluating areas to purchase?

I made the mistake of consolidating nearly all of my due diligence specifically to RTR, and was less diligent when it came to evaluating their partners. 

However, if the property is a long-term hold, the lower interest rate with a prepayment penalty can often result in better overall returns.Another consideration investors should evaluate is how prepayment penalties are structured - whether it's a declining penalty over time or a flat fee - because this can significantly impact their profitability when selling earlier than expected.