Property #2 - I want to build an ADU on my primary residence in Florida and am thinking I should use a HELOC. 

Purchase price: $350,000 Cash invested: $600,000 I own and operate Platinum Resort Assisted Living, a 16-bed Memory Care Mansion located in the heart of Georgetown, TX!

A sub-to impacts a lender much, much more than Pace disciples realize...so yeah, I called loans when we I wish more people understood the underlined statement above and stopped telling the lie that the banks don't care as long as the payment is paid on time.

If you go from a 2-4 unit into a SFR -Single Family Residence it will be easier in underwriting.

The low money down loan options are for primary residences so you would have to have the intention of living there.  

One thing I do not care for is that the communication with tenants is not easy to do on the platform. 

Also be careful on the zoning as some areas require a COE and are constantly under city scrutiny.

Hi All,I took a HELOC for ~$60k on our primary residence to fund a renovation on a rental property.

You don't want the liability as a rental and your expenses are going to be a lot higher for insurance and maintenance, and I will promise you that your tenants will never take care of it the way you will.   

We've been here in New Mexico as residents in our home here for 20 years off and on.