Unfortunately - my current lot for my primary is 1 acre and VERY sloped, and close to a water source (creek), so the county has not even allowed me to permit my downstairs finished basement without an extremely costly renovation to our septic (over $60,000, and that doesn't count demo'ing and replacing our driveway to get to the existing tank and leachfield), and even if I could permit it, it would essentially need to be a treehouse in the redwoods due to the slope (not a bad idea though, I would actually love a livable treehouse on this lot!

Here’s some context: Property 1: >$100k in EquityValue: $325kDebt: $220k @ 2.88% (30-year fixed)Property 2: >$70k in EquityValue: $325kDebt: $252k @ 3.38% (30-year fixed)Extra considerations: - I have $15-20k liquid to use for any of these deals- My current job is relatively stable, but not high-payin- Current properties in TX, living in NY, looking to invest in Mid-West (crazy, I know)- No other debt obligations besides the two mortgagesUltimate goal/timeline: Though a bit ambitious, I’d love to build up the portfolio to 10-20 units in the next two yearsI understand that any/all replies aren't financial advice; all ideas welcome for information purposes. 

Move into the house for a while (there are spare rooms) and get a better idea of what is going on.

Maintain good business practices an carry a decent insurance company.

You can tell him the people on BP think it's not a good idea. 

Some don't like the idea of a 2nd position lien that is very small and very high on interest rate. 

Need a little more information to throw out a few ideas. 

Another idea that we have been exploring is using the cash value of whole life insurance funds for emergencies. 

What you need to learn in your 20s is how professional business works, how to manage people and projects, how to run an organization and how to sell ideas and concepts.

Great idea. :)