@Jose Mejia I assume this property was purchased under an LLC.

There are some HOA's that are in such bad shape they wont allow any type of loans and it must be a cash purchase.

It won't take much money to purchase something that makes sense.Use the remaining money to invest long-distance.

My wife and I purchased a home at the very beginning of 2022 and "house-hacked."

@Mario Morales - As some others have said I think the strategy is sound, but the key would be to find a distressed property that you can drive up the value with renovations so that the new value is 25% higher than the purchase price so you pay back your HELOC.

Purchase price: $225,000 Cash invested: $40,000 Sale price: $375,000 Bought a large 4 bedroom pool home and flipped

Also, what is your price range for a purchase and are you looking for turn-key or a fixer upper?

Hello, I’m looking for some information on Investors that might be interested in purchasing a mobile home.

This would allow you to indefinitely defer all of the tax if you sold, and use the tax you would have had to pay, to purchase something nicer in an area with a greater growth potential.   

I've not yet invested in my first property, but I plan to purchase my first one by the end of 2023.