Welcome to the arena. 

We owe around $75k on the loan, but the value is near $250k. 

At least I’ve heard the theories.

Find a knowledgeable and trustworthy broker in your market that can shop amongst the various providers and find you the best deal while still making sure you have the protection you need.

You make more when it's uneven and you can live in the smaller unit.Focus on the asset and the area, as long as you can withstand net negative or breakeven cashflow, and you will gain in appreciation.

Property to purchase would be a STR at $240,000 - so we would need the 20% down payment and we are looking at different options as the source of the funds.

That's where you'll really find your "tribe".Happy hunting, would love to hear more about the local market dynamics you are serving.

Quote from @Tessa Tsui: You claim to have read those articles before, but you are using the wrong terminology and asking a question that is clearly answered by the resources Russell provided.

I listed it for a month, then decided that cashflow would be strong with the current mortgage.

https://www.har.com/content/department/mlsHouston Real Estate Highlights in November, 2024:-Single-family home sales increased 6.0 percent year-over-year;-Days on Market (DOM) for single-family homes went from 48 to 52 days;-Total property sales were up 3.3 percent with 7,750 units sold;-Total dollar volume rose 11.1 percent to $3.1 billion;-The single-family median price was up 1.5 percent to $329,900;-The single-family average price climbed 4.1 percent to $418,903; -Single-family home months of inventory registered a 4.4-months supply, up from 3.5 months last November.