We provide everything you need to build generational wealth under one roof—property management, construction, experienced agents, and connections to top lenders.

Always underwrite conservatively Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

While these vendors are typically reputable and skilled, you might not get the best price compared to shopping around directly.

City Hall want to keep small town small, does nothing to promote town Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

You will likely need to rehab for any strategy but Co-Living will be more bedroom additions which is less cost compared to kitchen and bath remodels that are more needed for furnished rentals. 

Comparing just those two things, you would save way more money in the long run by avoiding the annual mortgage interest.

You got some solid advice above check with your lender and get in contact with an attorney like @Bob Floss II who can help setup the OA.Assuming there is no pushback from your lender, you should be able to do a quit claim deed to retitle. 

Low Down Payment OptionsGerman lenders often offer financing programs requiring only 5-10% down payments, particularly for primary residences.Strong financial regulations in Germany support these low down payment options.3.

I have seen some exceptions with bigger lenders.

Your $80K HELOC can serve as the down payment, as most lenders require 20%-25% of total project costs upfront.