I've seen many investors who ended up in similar situations where they chose to walk away and ended up being glad they did.

There's actually a good chance your overall "cash out" with the HELOC will be higher (most banks will go up to 90% vs 80% is generally the highest a cash-out will do) albeit at a higher interest rate, but you can protect the original mortgage rate if its very low (2020/2021 rates).Also consider the flexibility of only pulling on the HELOC when you need it thereby keeping expenses down.

Just a heads-up: with the way the insurance market has been here over the past couple of years, this is accurate as of today, but things could look very different (for better or worse) in 6+ months.

Typically, you can pick up these homes for far less, and if decorated properly they will book for the same rates or even more than a similar home in the newer resorts.

Those rent crept up to about $1300 over the years.

Hi Charlotte, I know I'm quite late here but what did you end up deciding?

Before getting started, I’d recommend focusing on three key areas:Strategy Selection – Understand the different investment strategies (BRRRR, short-term rentals, etc.) and determine which aligns best with your goals.Market Research – Study the market you want to invest in, including property values, rental demand, and economic trends.Laying the Foundation – Take proactive steps now that will set you up for success later.

Hard to fault her very methodical informed decision.

Hello Yuki, did you end up buying chalet at tiger run resort?

Not everyone wants that or is willing to put up with that.