My parents are still paying the mortgage of their own house, and beyond its equity, have no plan for retirement.

I'm flipping my parent's primary residence, and I'm wondering if I should take out a HELOC or Refi.

That being said, it has left me very cash poor and forced to moved back in with my parents. 

Call his parents/rehab buddy - let the people who have intervened in the past know that they're needed again. 

Our issue is that we currently do not have enough on hand cash to perform the renovations right away but we want to be able to use this property as a BRRR to get our next one.If we rehabbed downstairs we would essentially be able to raise rent $250/mo based on other rents in the area.We currently have a multi-family that we rehabbed and have rented out but we are “saving” that refinancing option for a future project that will be a complete gut.We are also open to holding the note and purchasing it that way but we still need to discuss that with my parents and see if that’s something they are comfortable with .

First and foremost I gotta admit that I honestly don’t know **** about real estate, I’m 23 living at my parents house, I have about 60k dollars in my bank account and I make about 2.5k a month working in customer service and I have no expenses.

I have about 300k in equity and my plan was originally to sell my home and go live in a trailer on my parents property while I worked on a deal for a multi family property.

But... my parents sold their house in NY with a decommissioned tank that had leaked.

The setup: wife and I live in NYC, her parents recently rented an apartment close to us in order to be with our firstborn son (who is just starting to crawl...), THE RENT IS TOO DAMN HIGH (some good YouTube clips on that if you're interested) and we can both work remote so why not move somewhere with a lower cost of living?

Essentially i itemize slightly over the 24k today as im single with owning a home, donations, etc.