My goal is to create generational wealth for my family and to eventually have the financial freedom to say "yes" to travel adventures as a family. 

The key is to ensure the HELOC doesn’t turn into a long-term financial burden if the partnership doesn’t pan out.

A clean cut, I get that it might be hard emotionally and financially but a clear break on stuff is what you need not more stuff that keeps you together that will just be one more thing to fight over later.

Your understanding of NOI, deal negotiation, and long-term strategy are assets that make you stand out. 

Also any tips for automating this as much as possible and how to protect the property financially and property management would be appreciated.I ALMOST understand the rental arbitrage strategy if building a company scaling with say 30 + units and looking for high short term cash flow.  

And as you can read here on BP this is probably the number one recipe for financial failure. 

Prioritize your financial stability.

Great tools that get updated regularly.I am on the lending side of things and would be happy to hop on a call with you anytime to discuss financial strategies and help answer any questions you may have about nearly any loan product available to help you on your journey, even if they are not products my capital partners offer.We are all here to help you learn and grow.

You do not need to take on new debt for the $450,000 reinvestment unless you choose to do so for other financial reasons.If you have further questions or need clarification, feel free to ask!

@Anita Z.I recommend finding an accountant who specializes in real estate taxation, tax planning and financial planning.