For me, the first pass at underwriting is simply about determining if a deal is worth exploring further.In the current market, I’d say 9 out of 10 deals are dead on arrival.

At one point I talked to my financially advisor and he said that it would be smart for me to open a HELOC on the property, but not draw from it, except in the case of emergencies.  

Also, if you form an LLC to hold the property, you will need a designated agent(attorney) in that state. 

I’d offer to sign the form if I was allowed to cross out everything between brokerage firm and during the terms.

I always loved having an HELOC on my primary residence as the answer for me. 

My vision is to bring together motivated people to support one another and potentially form an LLC for group projects as we grow.If this is something you might be interested in, I’d love to chat more and see how we can help each other on our journeys.

The major negative experiences for me had to do with ship times (their updates are on the slower side) or what happens if product is damaged or arrives late. 

As a result, no MiniStays account for me. 

I could completely be misunderstanding the process, so thank you, in advance, for clarifying these items for me.

Together, the property nets us roughly $1,400/month after expenses.Equity Split: My partner owns 60%, and I own 40%.I'm exploring ways to take out my equity without disrupting this deal, as I feel this isn't the best financial decision for me right now.