Investing in real estate is an excellent idea. However, like with any investment, it's imperative that you know what you're doing and considers various factors when choosing the most suitable property to invest in. Ma...

A local credit union is probably your best bet for finding a HELOC.

So if you can use your first deal to get you to your 2nd and 3rd...big win...Otherwise that $32k would just be sitting in the house earning you $150/mo or 5% annual returns...based on this first project, I'd bet you could earn more than 5% with that money by BRRRRing another house... 

We switched to being treated as an S-Corp for tax purposes around 5 years ago (later than we should have) and it was a really good choice, self-employment tax was trouncing us before that.

What makes it interesting is it has several parcels of land with the sale of the house which we could probably sell off the larger parcel for about 25-30% of the total purchase price.I know the basics of Section 121 but I'm trying to understand if there is a way to extract value from our equity position in our current house to make this a better choice than finding a straight rental.Current house Purchase $215K Current Value $280-290KOwe $160k 15 year mortgage at 2.75%Mortgage + Tax + Insur $1450Possible Rent $1800-2000Possible Live-In FlipPurchase $300KRepairs ~$20k-40kARV $325-350k (excluding land to be sold off)Land Parcel Value to be sold off $80k-100kI would love to hear your creative thoughts on this situation and how I can optimize.Thanks!

Usually credit unions are your best bet for low fixed rates.

In my gut there was something off but maybe i was scared or nervous to make the wrong choice?

@Julie Verardi  are they obligated to shovel and get a $40 discount each time it snows or do they have a choice to shovel or not? 

If incomes don't keep rising, prices will soon hit a ceiling.Second, and related, the Fed is becoming increasingly hawkish -- they have no choice but to increase interest rates this year to fight rising inflation.

Your best bet would be to bring on a partner with good credit.