HELOCs are much tricker than a closed end second - they don't typically allow you to close in an LLC and they are full doc qualification, meaning your FICO, employment history, income, DTI etc all come into play.

@Steve Crisp There are a lot of variables that go into play as to whether you could benefit from a cost segregation study or not.

@Barre Gambling I am curious... in your opinion, is our area in central NC underserved outside of the Raleigh-Cary-Durham MSAs?

Since COVID, the demand for cash actually increased, so this is a recession resistant play.

This plays into the affordability issues for tenants by allowing them to live in nicer neighborhoods for less money, yet I get monthly revenue comparable to short-term rentals.

Period.If he keeps playing games, I would a) walk away from the deal, and b) report him to the State RE Board.chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://www.ncleg.gov/EnactedLegislation/Statutes/PDF/BySect...

I'm playing around with a google doc to try to make it a public/or invite that we can post to.

Role-playing.     . you paid $300k 10 years ago, it’s worth $660k, (so when you sell you net $600k to make math easy.)and your cpa determined that you owned zero land, so it’s all depreciatable. you owe 15% on the $300k gain plus 25% tax on $109k depreciation recapture, so you owe $70k in federal taxes, then California reaches out for another $30k?  

And the reason why your "tale of two halves" will play out as you described.Demand:  This has actually been high almost all along, but rent growth hasn't materialized in response due to high levels of new supply. 

And in part, it depends on the investors and capital that you have access to (this tends to play a factor in many decisions when raising outside capital).If you do want to go the fund route, you might want to consider using Avestor.