@Michelle SharkoAnswering questions in step by step fashion:- Is it a good thing to do or not is a personal finance decision and it depends on the person asking it, their risk tolerance which in part has to do with how this HELOC or line of credit works and how your personality fares relative to taking on new debt (a person more adverse to debt might have sufficient savings and temperament to pay down/back the debt versus a financially liberal person might get in over their skii's as).

Your drive to learn and network will be invaluable as you explore creative strategies that maximize returns and minimize upfront costs.Feel free to reach out, ask questions, and share experiences this community is a great resource for learning and connecting with like-minded investors.

A couple questions for the group.How challenging is it to mix STR with MTR in this way?

I know this can be expensive.  

We are seeking investment in this area as it is near family and our anticipated retirement. 

I wish I would have done this earlier.

If this is the case, set up your listings on Airbnb etc. but block out the calendar until you are ready to start taking reservations.  

My calling is to help as many people as I can to achieve at every angle of their lives, so I am passionate and ready to tackle this new venture.

Next in this environment you may be challenged to get $10k rent on $1.3m property.  

We've seen our area MLS which covers about 20 counties come down to an average sold to list price ratio of 95.1% and Knox county specifically has come to 96.4 % which is lower by about 2% from this time last year and down from our peak this year of 98.5%. but it's about in line from winter 2022 into spring 2023 which was a time when rates were rapidly rising.