I have made lots of calculated but risky decisions based on knowing my family, wages, living expenses etc.

Quote from @Scoop Schneider: 86k principle 7.5IR 360 months 800 credit score 1st position Put it on paperstac. my guess without dropping it into any calculator would be its worth $50-$70k assuming property value is above $100k

I’d have a better picture by sitting down with someone at a bank, but I did a calculation online and the new loan on cashing out $130k would still be covered by the current rental payment.

Since it says you are new to real estate and sharing calculations, my experience is that a lot of new investors are spending a lot of time "modeling" and zero time actually seeing homes or multis or commercial properties in person.

They take your electricity bill for the year and do a straight line calculation which is almost always wrong because your electrical company charges vary by the hour, and solar production vary by the hour / season etc.

In 2023, gross ROI for flips averaged 27.5%, but net ROI (after all costs) is usually 10-20%, calculated on the total investment (purchase price + repairs). 

Loans or lack thereof don’t impact tax calculations—only net profit matters.

Sorry for the following Contrarian advice, but you're not a 5 year old so:The only reason to buy a personal residence (Home) is because someone is forcing you to.Usually, this person is called your Spouse (which is Latin for someone who forces you to make horrible financial decisions then criticizes you for them endlessly:)perhaps DON'T buy a home, just rent something affordable and invest the 20% or in your case 50% into the stock market (sp500 16.1% yearly return last 15 years, 11% last 50 years, 10% last 125 years)remember, your RENT is your maximum monthly housing expense, but your Mortgage is your minimum or starting monthly housing cost, it always goes up from thereI've, owned 2 personal homes, 100% appreciation in 6years on #1 and in 7 years on #2, (I timed our market perfectly both times), with 20% down and very low mortgage rates, but after honestly calculating all expenses, only made about 5-6% a year "investment wise".

To start your first BRRRR investment, define your investment criteria, focus on submarkets with favorable cash flow and rehab costs, build your team, analyze deals using tools like BiggerPockets BRRRR calculator, and start small.

(Full disclosure: almost always I used an agent.)Start by doing your first deal as an agent in order to get a better understanding of the business, then calculate your overhead/ operating expenses and you will quickly see what we’re all trying to tell you.