Here’s a detailed analysis to help guide your decision:Initial Costs:Purchase Price: $260,000Down Payment and Closing Costs: $60,000Monthly Cost: $400 for several yearsMarket Value:Current Value: $540,000 to $600,000Immediate Equity: $280,000 to $340,000 (based on the market value minus the purchase price)The substantial equity in the farm can be a powerful tool for your investment journey:Home Equity Line of Credit (HELOC): You could use a HELOC against the farm's equity to fund other investments.

They are likely in violation of the lease agreement in this moment and you can evict based on one of those issues. 

Also at the end of the fiscal year we typically take out an owners distribution based on how much money is still in the account and what our upcoming goals are regarding new expenses.

However, you may be able to offset some gains through depreciation recapture.Prorating the exclusion: The IRS typically allows you to prorate the capital gains exclusion based on the percentage of the property used as your primary residence.

and then that's what you base depreciation on, once it's "put into service" by being rented. 

Condo Heloc could be difficult with recently being listed for sale..check in with @Joseph Chiofalo he's a South FLA based lender and they have DSCR and alternative income bank statement second position programs..they also do mixed use and 5+ units commercial lending. 

Hello everyone,I'm new to this community and currently based in Madison, WI, where I plan to invest.

For example, agency lenders may have specific restrictions based on market preferences and require a minimum debt service coverage ratio (DSCR).Understanding these market-specific nuances is crucial to ensure your deal aligns with the lender's criteria.I've encountered solid deals that were hindered by financing constraints.

Let's break down your equity based on your numbers:Property 1: 6.5% return on your equity (yearly cash flow/Equity)Property 2: 6.08%Property 3: .88%  Property 4: 2.09% Property 3 and 4 are definitely too low of a return. 

Tenants are currently paying $1500, which is at-market or slightly under (based on comps and location I think we can pull $1600-$1700) 4.