"Jump in or fall back in line"

My plan is to convert it to a permitted bed room.

She already has employment lined up but I on the other hand do not. 

I was originally planning to fix and flip until I got to listening to Brandon Turner, now i'm considering the BURRR method OR pulling a equity line of credit. 

@Daniel Rutherford  Before going into the finance details, will the on-line auction even allow it to be financed?

One of my rental properties is a 2-bed 1-bath rowhome in the Canton neighborhood of Baltimore, MD.

Gated community, 3/3/2car 1512sf built 2006 Monthly costs Hoa 66, insurance 57, management 89, taxes 58 rents for $1125 $212k value = $170k loan @ your 4.612% = $873 total $1143 (minus $18/mo)In the last year I had to paint the trim ($500) and fix clothes washer ($237)#2 preferred single story model, not Gated community, 3/2/3 car 1456sf built 1993Monthly costs Hoa 0, insurance 44, management 90, taxes 64 rents for $1125 $250k value = $200k loan @ your 4.612% = $1027 total  (minus $100/mo)In the last 2 year I have had zero repairs #3 non-Gated community, 3/3/2car 2200sf built 2007Monthly costs Hoa 57, insurance 46, management 98, taxes 74 rents for $1375 $264k value = $210k loan @ your 4.612% = $1078 total $1353  (plus $22/mo)In the last year I had to replace the stove ($590) and fix a sewer line blockage ($125)In north Las Vegas sewer is included in garbage,recycling/water bill from the city. in Las Vegas I bill the tenant for sewer per the lease (about $250/year)

Bottom line it, no matter if it is Primary Residence, was a primary residence, or is rental, if you take out any type of HELOC or equity loan, and use the proceeds for reinvestment, you can deduct the interest on those loan at the reinvestment level, only to the extent you reinvest it. 

It seems that unless it’s in rough condition and I make a very lowball, borderline-unrealistic offer, the numbers aren’t gonna work.I’m sort of torn because I have an amazing deal on my rent-stabilized one-bed here in Ridgewood, Queens.

It is a 3 bed, 2 bath in very good (move-in ready) condition with a driveway, good sized front and backyards and in a nice, up-and-coming neighborhood, just across the street from a beautiful community park.