Hi Edwin,  Congratulations on your current real estate investments and saving up emergency funds.it's essential to consult with a financial advisor or real estate professional to assess the potential risks and rewards of accessing the HELOC and investing the funds.

However, if the appraisal is conducted as part of the property acquisition process, it's likely considered part of the property's basis.It's important to keep detailed records of these expenses and consult with a tax professional to ensure proper treatment on your tax return.

Kicking off your BRRRR journey is an exciting step, and it sounds like you've got a solid base with your current rental.

I here to get all the info I can and share my journey along the way.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I believe in the power of real estate to generate lasting impact and am eager to navigate this journey with a blend of patience, education, and collaboration.I would greatly appreciate any advice, insights, or experiences you’re willing to share, especially regarding navigating investments both within and outside the Bay Area.

.; finding, analyzing, acquiring, and managing a property), then it becomes exponentially more difficult.Think of it this way: forming and managing a team of real estate professionals (agent, inspector, property manager, contractor, etc., etc.) without any real estate experience is a bit like trying to form and manage a law firm without any legal experience, or trying to establish and manage an auto repair shop without any automotive experience--those would be monumental challenges even locally, but doing it from hundreds of miles away is near impossible.

I want to be understanding (despite some unwelcome commentary about my rental during a second tour that went on for nearly 1 hour after lease was signed...) and professional, but this sets me back to step one of finding a tenant while maintaining two mortgages/bills and outdoor spaces. 

It was a very bad experience for me that could have been easily avoided if they had any professionalism and commitment to doing what they advertise they do.

I am interested in how rental losses work if income is over $150K and if not a real estate professional.