Here are the key details of my situation:Rental Property Details (Note: This was our primary home till 2017):Current Value: $970,000 to $1MPrimary Mortgage Loan Balance: $505,000 (@ 2.6%)Took Home Equity Loan on this house to make down payment for my current primary residence.Home Equity Loan Balance: $123,000Total Loan Balance: $628K (Primary Mortgage + Home Equity Loan)Rental Status: OccupiedPrimary Residence:Purchased in 2022Mortgage Rate: 7.3%Current Loan Balance: $650KMy goal for 2025 is 2 fold: #1.

The deal will leave the seller at your sons mercy for decades (the life of the loan).

I have lived in the far east side my whole life.

Could you expand upon "leverage the start of your entire life"? 

Either way can work, it won't be easy where deals will pop up in your lap

Even if this works.

Assuming you go the HELOC route, another option to reduce your costs assuming you have decent credit is to look at credit card balance transfer promotions.Back in 2003-2004 I had HELOCs on my investment properties and interest rates were increasing.

I believe these systems only work if you have good employees, in which case a bonus is unnecessary.I provide strong compensation, some benefits like 401k, growth opportunities, and a strong work culture.

When they do, you can refinance to a lower rate.Dealing with current high interest rates (about 7% on 01/27/2025) you have the following choices:A larger down paymentAccept a negative cash flowBuy down the interest rateCombine and balance all three to get an acceptable cash flow today.

Sometimes it works while others it does not.