This is key to understanding how refinancing works and how you might not need to come up with additional cash for the down payment (this is the power of real estate over time!!!).

I will tell you if I could have put down 5% instead of 20% on my 7 properties I would only be into them for about a total of $70,000 instead of close to $400,000 which would have allowed me to purchase an additional 5-6 properties if not more.

END QUOTEIf someone submits BS documentation for an emotional support animal, they are notified that their application is being put on hold until additional valid documentation is submitted. 

As for STR, I am about 20 minutes from the beach and it wouldn't have much attraction IMO as far as marketing it as a vacation or getaway or anything like that, especially because it is only about the size of a studio (its a garage conversion for the bedroom, and then an additional kitchenette area and bathroom behind it).

Hi Kingston,With a HELOC, you are essentially opening a line of credit in addition to your original mortgage.

Purchasing a new townhome and received the following as best so far:- 6.875% 7/1 ARM- 7.35% 30-year fixed I am aware of the risks with the ARM and plan is to either refi when (if) rates drop, or sell around year 5 (along with others I plan to purchase) to get into commercial or larger multifamily.

Additionally, I prioritize respect for seniors and recognize the difficulty of embracing change.

Cash flow before taxes" = NOI – Debt service – Capital expenses + Loan additions

My wife and I decided that we would rent out the house but because we have received a grant for the down payment and closing costs from the city of Baltimore, we are wondering if it’s okay to rent out the property without any issues or they would check to see if we live at the property or we did a mortgage fraud by renting out the property for not living it for 7-12 months.

I suspect even in Texas a hands off garage conversion ADU addition will be double what the OP specified ($40k to $50k).