I would potentially use a bridge loan in between to pay off the CC using Lending Tree for example.

For those asking about location, it'll be in the knoxville area (potentially smokies or adjacent mountain accessible areas) and will be doing several smaller 400-900 sq ft units (new builds) on a 5-10 acre lot, and I will be bringing the great styling, photography, marketing, and amenities :)  I was actually assuming worse vacancy in the beginning, but this is reaffirming my feeling that what is hurting is large and dated rentals. 

We believed in our potential.

Its just against future rental profits potentially...Good luck.

@Noah Bussanichwho is the broker, and what is their relationship to you / to a potential transaction?

@Trevor ToftThe decision to use a HELOC on your primary residence for real estate investing involves considering various factors, and it's great that you're evaluating the potential outcomes.

The advantage is that DSCR loans evaluate the property's income-generating potential rather than relying solely on your personal income, DTI, tax-returns.

Before committing, conduct due diligence, seek independent financial advice, consult with legal experts, and have open conversations with your friend about expectations and potential conflicts.

And even then, that only defers the tax liability.With the craziness in the public markets, you could potentially tax loss harvest...At least be glad that you made money on it in 8mo. 

Being a private money lender who lends out my own money, the typical response I receive from potential borrowers is that it is hard money.