@Praveen KumarAgree with some of the other sentiments on here.

I will echo the sentiment of choosing carefully.

I have been reading a lot recently about how hard it is to buy a property in New Jersey that produces adequate cash flow or even positive cash flow.I am about to make an offer on a property in NJ and so this sentiment has me nervous.

Quote from @Jessica Munguia: Remove all personal items, anything of value (financial or sentimental) that you can't afford to lose, medications, etc.

HI Laurie,This one is going to be a balance of home sentiment, personal financial confidence based on your particular situation, and the choice of product.Choosing the right product will also be based on your perception of financial risk and your goals as well.A line or HELOC has its pros because you only pay interest if you use it which is nice because if you dont use it you dont pay anything other than the 0-75 dollar admin fee (most heloc’s have this and some dont just make sure to leave it on auto pay to avoid forgetting and incurring a late on your credit report).The downside with the HELOC is the insidious variable rate feature (margin + prime which is currently at 7% as of this writing).

Hello DeAndre, I would like to echo the sentiment that the other people here have discussed as well as add something.

Agree with the sentiment here on i/o - a bit risky with a 5 year maturity; you could run into refi trouble and lose the property altogether. 

My sentiments exactly! 

I agree with Jason's sentiment, due to costs here you would be lucky to break even as far as cashflow goes.

Hey Trevor, you got some great responses here...just wanted to echo the sentiment that small multi family is the way to go and to add congrats on the impending proposal :-D