One key thing to note is your exit strategy - specifically, how do you plan on paying back the HELOC?

Hi Amanda, the best option for you will depend on your specific goals, preferences, and circumstances.

He works specifically with small landlords in situations just like this.

Thanks Chris -- will definitely start talking to specific lenders.

There are probably very specific laws depending on the city that you are in.

Are you looking for agents in a specific area? 

Target a price based on where I am in my REI plan, which has a specific amount of cash available, and a specific return needed from that cash, at the specific timeline in my plan. 

Leveraging that asset to finance another deal is smart play, and the townhouse you're eyeing seems like it could be a great addition to your portfolio.When it comes to budgeting for renovations, it's definitely a challenge to nail down accurate estimates, especially when resources might feel a bit outdated or not region-specific.

Are you looking for properties specifically in the city of Grand Rapids, or the surrounding areas as well? 

Documentation should include details regarding the business purpose, total use of the property, specific expenditures, business usage, and dates of expenditures and use.In the absence of such documentation, deductions are vulnerable to disallowance, leading to potential penalties and additional tax liabilities.