I believe that he might want to move the Florida loans to Colorado I just found out but Im very hesitant to do it and putting all my eggs into one basket.

@Chad Verdesorry if this comes off as negative / discouraging but rates are high so this is likely what i call expensive money.now on the other hand, if you can do a cash out refinance, pull cash out, still cash flow, AND you have a specific opportunity - fine. 

When are you planning to do the renovations and rent out the other unit?

In future we could also rent out the main house that we currently live in.

hi @Alvin TaverasMortgage Broker here, i've been referring clients out to Credit Unions for their HELOCs. we have a handful of lenders that can do them, but i'm finding the juice is not worth the squeeze in the broker/ wholesale world.

Your bio says "Denver" but that could mean a lot of things and there are significantly different rules on renting out your property whether you're in Arvada, Westminster, Aurora, Denver proper, etc, etc.

Feel free to DM me to find out more.

I'm exploring the idea of renting out property to Section 8 tenants in St.

Did the bank give you any other terms (usually spelled out in a term sheet or LOI) relevant to its loan? 

Ask them if you can speak to some of the borrowers they have lended to find out if they enjoyed working with them