HELOC better used for short term, ideally for under a year.

The program provided valuable insights into market analysis and helped me develop a clear vision for my mid-term rental (MTR) strategy.One of the things I appreciate most about the program is its inclusivity.

The other house is a short term rental. 

@Patrick Boutin - We like to separate FARM's from leads as follows:FARM (Focused Area Real estate Marketing) - this is a term that has been around for ever in the real estate agent circles.

In my opinion the best use of a HELOC is for short term needs like a credit card.

This debt type would throw economic projections for economists and increase the risk of lending for lenders.Phantom Debt is created when a consumer chooses the Buy Now Pay Later (payment plan) option when making online purchases.These types of payments are not currently reported to any credit agencies as debt which is why they have been given the term "phantom."

I want to buy the property on terms and demo, build a new house.I want to structure an owner finance deal with him where I either pay him interest only on the lot or no payments for 18 months (or until the new house completes and sells whichever is earlier). 

Something like damage to flooring might have been noted then.As for useful life (this is term used in California law), your PM is correct in taking the useful life of component into consideration.

I'm curious what everyone is doing.  For those of you that are running a hybrid STR/MTR model, do you have TWO separate listings on Airbnb, one that is STR and another MTR or are you using tools to manage your calenda...

What terms do you have on your current rental property?