HI Laurie,This one is going to be a balance of home sentiment, personal financial confidence based on your particular situation, and the choice of product.Choosing the right product will also be based on your perception of financial risk and your goals as well.A line or HELOC has its pros because you only pay interest if you use it which is nice because if you dont use it you dont pay anything other than the 0-75 dollar admin fee (most heloc’s have this and some dont just make sure to leave it on auto pay to avoid forgetting and incurring a late on your credit report).The downside with the HELOC is the insidious variable rate feature (margin + prime which is currently at 7% as of this writing).

If any of these ideas are good I would love to see them adopted by normal builders because I don’t like the current type of traditional homes that are on the market, both in terms of design, but also the functional things like pest resistant features that seem to be generally lacking.

Encourage referrals and word-of-mouth5.

Take ownership of your mistake and learn to do the proper due diligence recommended above😊Please send us any feedback via email, as we do not use the DM feature here

Are you trying to flip it and want to use the space as an ADU feature?

My name is Tony, and I work with the Biggerpockets Featured Agent Program!

I'd encourage you to evaluate refinancing the property to a 30-year, just as an alternative to selling right now.

I have two short-term rentals in Florida and if you do pursue this property, I would encourage you to also try and get it furnished.

I would probably just encourage your buddy to buy a nice townhouse or single family at this point.

Thanks for the words of encouragement me and my wife did discuss the whole str and mtr idea before it came down to how are we going to furnish the place and with what money.