With a HELOC, you have no extra expense (some HELOC has annual fees, but they are low - like $100 - $200 at most which is negligible) unless you actually pull the cash out.  

The market here is relatively expensive, we both have pretty good jobs, but would like to avoid using our entire savings to get this off the ground. 

Many new agents fail to make enough commission to cover their operating expenses and their living expenses.

The market here is relatively expensive, we both have pretty good jobs, but would like to avoid using our entire savings to get this off the ground.

It's where you rent out a portion of your primary residential home to drive the cost of your own living expenses down.Myself I have a 3b/2b trip level home and I rent out a bedroom for 450/m and slowly working on getting the other room into a STR.

Who pays for what expenses?

This one pays off the mortgage but no other expenses which cost about ~4000$ per year (because I live in it).

I also alter the numbers slightly because the market is a little expensive.

Hey Elliot Jones besides all of the things around making sure you find a place in an area that has some possibility for price appreciation, I would caution to be very conservative on your projected incomes and expenses.

A license can be expensive to maintain.