Correct me if i am wrong, A HELOC is like a credit card in the means that you only pay interest on what you use. you can access it over and over again and pay it off over and over again but you don't pay interest on anything more than what you pulled out. where the cash out refinance is a loan so if you don't invest every penny into something then you are paying interest on money you aren't using.

At least in Illinois, the HELOC will not trigger a tax raise.

I’m just saving and thinking I need to raise funds and get into a larger MF as my first deal vs. messing with small deals

The downstairs unit rents for $750 per month and we were able to raise the rent 5% on the upstairs unit to $551.25 per month making the total rent for this property $1,301.25.House #3: Next we purchased another home from the same wholesaler another home in Baltimore County for $66,000 which was an eyesore and overwhelming for someone like me that has only done minor fixes up until this point.

Would this raise our Debt to income ratio and limit us to only commercial property?

Our original plan was not necessarily to rehab it, then sell, but to stay there for awhile and raise our family.

I know 3 X times monthly income is needed to rent a place , between my pension and 457 b withdrawals , I will meet income requirements, credit scores are good for both, credit card is high but I am managing it with no problem, tenant record is excellent (never late on rent payment on my life), after this brief summary, these are my questions/concerns:-How landlord/rental property feel about this situation when there is no W-2 income to present?

My credit is rather good (high 700s, a lot of credit cards that I pay off every month, but no large auto/home loan history), and hers is low 700s (long term, but no recent loans/credit cards).

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Hello all,Looking at purchasing my first home , but have some issues/Concerns that we’re raised around FHA approval.