A quick call with a local attorney can set the record straight and help you navigate this without drama.

Here’s our OPINION for the Metro Detroit market (use as a template for your target area!)

Here’s why this can be a great option:You can lock in a lower interest rate on the HELOC since it's based on a primary residence rather than an investment property.You keep your existing home, allowing it to appreciate while your tenants cover the mortgage.You now have two properties working for you—one generating rental income and another as your new primary or next investment.For analyzing rental cash flow, some key numbers to look at include:Expected Rent – Research what similar properties in your area are renting for.Mortgage & HELOC Payment – If you use a HELOC, factor in the monthly cost.Operating Expenses – Taxes, insurance, maintenance, potential property management.Cash Flow – What’s left after expenses and mortgage payments.If you do decide to sell instead, you can also use that equity strategically—whether for a strong down payment on a multi-unit, house hack, or another single-family rental.On the networking side, attorneys and other key professionals can be tough to find in everyday settings, but real estate investor meetups, Facebook groups, and local REI events are gold mines for connecting with them.

You have to set them up, market, book and clean. 

In the spirit of Goal Setting, here are my top 5 Tips for ensuring you set goals with the highest probability of success. 1.

I was going to do this, but I changed my mind after talking with my target demographic (my kids).

that will almost certainly set you back.hope this helps. 

Successfully acquiring, renovating, and selling multiple distressed properties can significantly boost your returns, but it also comes with its own set of challenges.

It is fair to express your disappointment that they exceeded the cost target you gave them. 

Explore my personal favorites, Set For Life by Scott Trench or The Total Money Makeover by Dave Ramsey, for invaluable financial insights.3.