Your choice whatever works best for you, thanks!

so a PRIVATE person had better be giving me much better terms....or I'm just going with Hard Money.I usually provide a choice to my private lenders - I'll give you 6% with payments or 8% with no payments. 

Hi @Skyler Smart, without knowing your financial picture, know that 75% of the rents for property #1 will go towards your income.  

@Alex Scotte well i dont have to say much here, maybe consider smart locks where u just have to change the code.

Once you've renovated it the HELOC is a great choice, my mortgages are also owner-occupied, so it usually makes sense to keep that mortgage in place and use a HELOC to access the equity. 

Quickbooks Online is the software of choice for our firm and many other CPA's.

You’re choices are.1) cancel the contract as you can no longer get financing as a primary residence2) put 4-5 times as much down and pay a higher interest rate as a rental property. 3) pay the tenant to move out.

My second choice would be investing in an ATM fund if you can find one that includes non-accredited investors.If none of those work, you could look at some vacation homes to supercharge through Airbnb and VRBO marketing.

You are smart and could build a team/system for any so it's choosing the one.

I'm not trying to speculate the market in the future, I'm more or less trying to determine if the move is smart ..