The interest rate on a HELOC is usually higher than a normal 1st lien mortgage, but I am seeing some cases where HELOCs are in the 6's and 7's (where credit score is high and LTV is 65% or lower), which make them pretty comparable. 

@Cheri Banet, the amount you owe has nothing to do with the taxes you will pay. 

hey Chris where are you from?

I’m curious to hear from other investors who have ventured into flooded properties such as what challenges did you face, particularly with insurance and permitting?

For instance, I've reached out to cost segregation companies in San Diego that will base land vs building value on whatever split the tax assessors report shows which many times can be around a 50/50 split. 

You can 100% create simple systems with free technologies and run your unit efficiently. 

The seasoning can impact when you can extract the value add which can impact when you can start the next effort.  

However, rates have since moved upward.A 30-year fixed rate mortgage is once again sitting around 7% interest:The real estate industry hoped 2024 would see a recovery in which mortgage rates fell and home sales climbed.

You might check with smaller outfits too like Co/Lab lending, Preferred Mortgage, Aceland Mortgage, and co-ops/credit unions.

Super helpful, thank you!