This deal was the catalyst that got me into the mortgage banking industry.

The biggest determining factors for STRs in the area are purchase or build price (and associated mortgage) vs rental expectations, that will help you determine net cash flow.

For a first-lien HELOC on a 2-unit rental property, I highly recommend reaching out to Taylor Adams at A&N Mortgage.

but let me know if i'm missing something That was the plan, and honestly my current mortgage is less than 1300/m so with the increase it is maybe double that, which I can deal with.

Since your property has high resale potential, some lenders may be willing to work with you.Cash-Out Refinance – If you’re open to refinancing, you could take out a new mortgage for a portion of the home’s value (say, 60-70% of the $500K), and use the cash difference for renovations.Personal Loan – If you have good credit, you might qualify for a personal loan for part of the rehab costs, though interest rates are typically higher than secured loans.Partner with an Investor – Given the potential profit, you may be able to find a real estate investor or contractor willing to finance the rehab in exchange for a share of the profits upon sale.Your best option depends on your financial standing, timeline, and risk tolerance.

I was studying the market and my rent will be just enough to cover the mortgage and HOA fee now I might to pay out of pocket for insurance but don't want to sell it yet because the area is growing and might have good appreciation in the years that follow.

Our tenants pay $2,700 in rent and the mortgage+fees comes out to $2,360.

To look at it from the other side, as a private money lender in my local market I need someone to find me the deals.

Both homes have mortgages, about 37% Loan to value, at an exceptional rate of 2.625% (15 yr and 20 yr respectively, both refinanced in 2020). 

Through the LLC structure it is possible to take advantage of the existing mortgages modified first at 4,125% 22yers and 1%, yes one percent, for 40 years.