We bought a property that passed inspection and thought we were on our way to a successful rental.

Yes to the HELOC route, but only if the new property cash flows to pay back the HELOC and its own loan.

The depreciable basis of the property was $641,100.

However, your son and daughter-in-law would need to be tenants of the property rather than the owners.

I currently have property with 1 acre and we are planning on building townhomes on it, but not sure how to get started.

@Melissa FaraiasGet a local agent / property manager would be my recommendation Also have you been in the property ?

Purchase price: $540,000 Cash invested: $108,000 Investing in South Texas offers additional benefits The price per square foot for new construction in South Texas is among the lowest in the country, making it an excellent value for investors seeking high-quality properties at a reasonable cost.

With its inviting curb appeal and well-maintained landscaping, 17 Penny Lane stands as a testament to both style and practicality.Upon entering, you are greeted by a warm and welcoming atmosphere that flows seamlessly throughout the property.

I don't have any experience with that company specifically, but assuming it is a 'build to rent' type program, I have yet to hear of anyone who has a completely satisfactory experience purchasing through these.Regarding the area that property is in specifically, it's going to be a very rural area, currently with low rental demand and a bit higher crime rates compared to the surrounding area.

Myself and family truly loved the property and house; just want others opinions on if this may be a mistake to proceed, or does this appear common practice for the age and location (upstate New York).