And of course all the events and attractions that draw people to Myrtle Beach are just 20 minutes away.In addition to Murrells Inlet, I would consider the adjacent Surfside Beach... which sits right between Garden City Beach and Myrtle Beach. 

Instead of losing 55k they will probably only end up losing $25,000 - $30,000Long term its not a great cash flow property but with some renovations and addition of a parking slab I think long term appreciation is the big goal here.

And if you join Lowe's Pros, you'll get an additional discount (it's free to join).

That being said an additional $500,000 would not stray me from this path. 

(replacing the original HELOC debt) However whether the interest for the  additional $200kish of loan  will be deductible will depend on 2 things: -How were the renovations paid for?

I track the principal as a Liability account in Xero, and whenever I add it to a report, it always shows the current balance, rather than the change over the chosen time period (like with expense accounts).  

Hello,Im working with a lender to refinance into a Fanny Freddy mortgage now that I have stabilized my 36 unit complex.They have asked for a CAPEX schedule, and a T-6, in addition to the rent roll. 

Just be cognizant that if you househack a multiunit, you have to live next door to your tenants, and you will also be steepening your learning curve by adding additional layers.

It sounds like you’ve got a solid foundation with your rental property, and I love the ambition behind your plans to build a property management and maintenance company—it’s a great way to take control of your investments while creating additional opportunities.Best of luck to you! 

I know this is a very old thread but if anyone comes across it I wanted to add some additional thoughts that might be helpful.