What other books have you read so far?

I can understand the temptation of wanting more rent from your multifamily home however I would add this to your train of thought:What would happen if your tenant in your illegal basement unit burned down the house which caused another tenant to get hurt or even die?

Hello Kat, i'm Emanuele and i'm a lender i see you work as an agent, what do you like about real estate?

Thank you sir!

I am hoping to roll these two into one loan and reduce my monthly payment/ interest rate on the HELOC as I will be having the debt long term.I also currently own a 11 spot RV Park which I own all 11 units and is currently generating $10,375/month in rent.

They also likely save you time.You can certainly still buy in DFW for $400K and maybe as low as $250K depending on where you want to buy. 

Let me explain:50% rule = tells you nothing of value, means NOTHING, 1% rule = tells you nothing of value, means nothing$100+ cash flow/month = means you are making $100/month in CF per month.Why do you want to invest in RE? 

I also hope you got a personal guarantee and have advised your borrower that you intend to enforce it.

Time clock- once you do the deal you’re on the clock.

Quote from @Chad Clemons: I wouldn't recommend it.Lease option can be lucrative, but you really need to know what you are doing.