Quote from @Fernando Martin-Gullans: Hey y’all, I’m a retail investor with 2 SFH rentals worth a combined ~$650k looking to utilize some of my stored equity to buy more out-of-state properties, but I’m not quite sure how best to proceed given that my interest rates are incredibly low (leaning me away from refinancing) and neither property is owner-occupied (which I believe prevents me from using a HELOC).

We purchased 133.7 acres January 20th of 2024, we then proceeded to subdivide 4 building lots, ( two 10 acre lots,  and two 2 acre lots)  which included costs associated with septic testing,  survey & subdivision, and property maintenence required to market the building lots.

Yes, you can proceed.

Put a lien on the property(s) they own, this is needed by some court action (i.e. lawsuit in civil/criminal court) 

With the sell of this home I will have approximately $140k in proceeds that i planned on using to invest with and start flipping houses.

Here in TN we issue POQ within a couple of days of rent being overdue, usually giving them 14 days to correct before official eviction proceedings start.

I took no money from the cash flow (when there was any) and I never made a late payment to the bank.This fall, nearly 12 years after the bank gave me that house, and over 15 years after I knocked on that door - after evictions, vacancies, insurance claims, and never taking a dime out of it - I sold that house and placed all of the proceeds in a 1031 exchange.

And you can use that to calculate your tax hit.In order to defer all tax you must purchase at least as much investment real estate as your net sale using all of your net proceeds.

You could be facing a huge fine if you proceed. 

However, we did have a tenant who stopped paying, and because of how impacted the eviction courts were, it took 6 months for him to get evicted.