They will be able to update you on what you need to do to help fire proof your home, and if there are any other options to lower insurance like external fire sprinklers, sealing up, attic vents, defensible space, etc.

Thank you,Jerry Jerry, I recommend getting in touch with an experienced broker who can educate you on all the possible options in the investment space for cash-out refinances.

In option 2, your costs are $25k higher.

What are other options do we have if we don't have piror experience? 

Also, think about creative financing, seller financing and sub to can also be options to grow your portfolio.

Once the city gives direction, then start to look at available options and penciling out the numbers to see what makes the most sense.  

Unfortunately almost every franchise involves renting the occupied space when the property would have made more money than the business.

We have three potential options.The first option is for me to completely owner-finance his purchase.

Also be aware of Unrelated Business Income Tax (or UBIT) on leveraged real estate inside of an IRA.Or better yet, since you are self-employed - go with a truly self-directed Solo 401k plan, which would be a much better option and will help you avoid the UBIT on this investment.

Without my wife's direct involvement, I think some of our homes would have struggled to stay afloat.