Both of them are by the bedroom and this new one I just completed a master bedroom build added on to the back of the house with a private entrance for myself so I’m currently renting out the other 3 beds.Which cost me thousands more than I expected due to contractors not performing like I had expected etc etc.

They should also re establish a new exit strategy, performance metrics, establish new expectations. 

You can definitely get HELOCs on investment properties, but the interest rate is high. 

With high interest rates, we'd be looking at around $3800 PITI.

I live in NJ, and it has a very high cost of living and with the current rate of interest, makes it a very pricey market so to say, and not that investment real estate friendly.

Anyone with directions will be highly appreciated.I am thinking of buying a 4-bedroom property that has some potential for student amenities.

Borrowing from the equity must be done wisely or you will end up with negative cash flow and at high risk due to over-leveraging.NOTE: I use interest rates much lower than they currently are in 2024!

Investing in real estate requires careful planning and due diligence, but with the right approach, it can be highly rewarding venture.

Or if they want a high-interest rate, and your numbers will not work at that interest rate, or if they really want a crazy high price where it will be difficult to cash flow and refinance in the future.

You can do DSCR loans or Hard money loans, where they only focus on how well the subject property performs in terms of the rental aspects or the ARV aka after repair value.