I got a Heloc to buy a piece of property at the first of the year, 5.99%.

Is it not true that when you lease your property to an LLC and have the LLC manage tenants, you create a legal barrier between yourself and the property’s operations.

I’m new to real estate purchases and only have 2 properties that currently own.

We also have 2 investment properties within about a 15 min drive of where we live.

Conventional financing for this type of property is going to depend in large part on what the purpose of the purchase is as well as the specifics behind the property type.

It is expensive but money is not cheap at all nowadays and as others mentioned even getting a LOC against a rental property is a huge score as not many lenders are lending on that product.Question I have is what are you using the $ for and can you earn it back? 

Negotiating the seller down on sale price from $200,000 - $185,000 to build some instant equity in the property.

I know you are probably bummed about this and feel like you made a mistake, but if you can figure out how to hold this property and buy more properties and hold them then you will end up making significantly more money in the long run; you don't build a real estate portfolio by selling.

I have an investment property with a small front yard and average sized backyard. 

Hi Jim, if the property isn't being used as a STR currently, certain DSCR lenders can use data like AirDNA to qualify for financing.