However, unless you're doing this as part of a BRRRR strategy, you may end up paying closing costs twice and incurring unnecessary interest on the HELOC prior to refinancing.Additionally, conventional loans often have seasoning requirements of 6-12 months, while DSCR loans typically require only 3-6 months.This post does not create a CPA-Client relationship.

Appreciation is never part of the cash on cash calculation.FWIW, I would talk to a CPA before turning an appreciated home into a rental. 

It’s a longer-term game, though, with higher upfront costs.I’d say spend some time researching your target area and connecting with local investors or meetups—they’re goldmines for market insights and networking.

The value of the property and how it’s distributed relative to ownership stakes will determine whether it counts as a taxable event, I believe(I’m not a CPA or attorney). 

I recommend you go visit a few times to network with local investors or find an investor friendly agent so you can gain local market knowledge, find off market deals and for things such as showings, picture taking or getting accurate comps.

You might find someone in your network who’s ready to sell a property, or someone who has advice specific to your market.Real estate investing is a journey of learning and growth.

I have totally given up on Quickbooks though it remains the best accounting software for the non CPA type 

Bank financing is very tough for anyone starting out so HML is generally ( unless you use your own cash or cash in your network) the only funding there is.. the goal has to be though moving towards bank financing so you get the best deal possible.. right now I am at 1/2 point and 7% and my bank pays for my appraisals.

From the public website,The BetterLife Tribe program offers everything you need to achieve real estate success:Monthly Calls with Brandon Turner and top real estate experts, providing you with insider knowledge and strategies.1-on-1 Personalized Coaching to tailor a growth plan specific to your goals and challenges.Access to the reiOS System of Success, the exact operating system Brandon used to scale Open Door Capital to over $1B in assets.World-Class Real Estate Education and Tools that equip you with the skills to dominate any market.A Thriving Network of 1,000+ Active Investors ready to support, inspire, and challenge you on your journey.Seems like a great program like many do in the marketing materials

Hey @Greg Strunak, get a good CPA to help get this all setup.