Yes, it will be interest only so the payment will be smaller, but you still need a plan to pay off that HELOC.2) Generally, you want to form the LLC in the state that will hold the property.

If a renter wants to extend for a few months their stay beyond the initial lease term, will I be a) required to extend and b) at the same rate as their existing rate?

Wow 2.25% for 15 years.Can't believe this was even offered in the first place.Actually free money...If you're breaking even, I likely would just keep holding it.

Issues like contractor delays, supply shortages, or unforeseen repairs can extend your timeline, which adds to your holding costs (mortgage, utilities, etc.).Tip: Factor in extra time for delays and have a backup plan to stay on track.Over-Renovating: Many new investors fall into the trap of over-improving a property, especially when they try to bring in their own taste.

I can typically find a new tenant to start renting shortly after the original tenant leaves, earning me a little extra money for my trouble.For tenants that can't/won't pay the termination fee, we let them know they remain on the hook for all expenses until a new tenant takes over.

Since all of this money is being borrowed and paid back in a short amount of time.

Investment Info:Single-family residence buy & hold investment.

However, due to very, very high cost of living in Silicon Valley, and difficulty buying a reasonably sized home, and given I will remain in Bay Area long term most likely (family all here), also need a property appreciation strategy to some extent, too.

Interest is long term appreciation though some sort of positive cash flow would be ideal.thanks so much !!

If so, is there a limit to how long we must hold the home as an investment property before we can move in and convert it to a primary?