I imagine once fully stabilized you will cashflow and live for free onsite?

Be sure to check out the free tools BP provides to help analyze deals you may have and also market insights.

That said, Detroit is very much a block-by-block city, so local knowledge is critical to avoid issues.If you’re serious about learning more, feel free to send me a DM.

I would consider selling if you have lived in the home the past 2 / 5 years since you have a decent amount of tax free equity in there but as long as you have a plan to reinvest those funds.By your numbers, since you have an amazing rate and high rents, I would consider renting it out if you believe your area will continue to grow in value.

Feel free to PM

Feel free to PM me, we can bounce ideas around.

Feel free to reach out if you would like more information.

I'm hosting a local meetup in Mankato, feel free to shoot me a message if anyone is interested in joining!

For example, you could create a weighted structure where a percentage of profits is based on cash contributions, and another portion compensates for rehab or management efforts.Rent Payments and Tax-Free Profits:If you structure it as an owner-occupied property, the rent you pay could be shared proportionally, but tax-free gains on resale may only apply to your share, as you’d be the owner-occupant.

A HELOC or cash-out refinance is definitely worth exploring if you want to free up capital for more investments, but make sure it fits your goals and comfort level.