Should I build a garage and hold off on another asset?

He said that they purchased an asset with rents that have not increased in 5 years (can't remember exact amount).

Your intent must be to hold it for productive use in investment.

Visio has competitive long term products.

You leverage the equity in your existing property as a down payment (or partial down payment) into your next asset.

The next question is asset class.

Let me know if you come across any B Assets in good submarkets.

Your tax liability would be based on your cost basis and how long you held the asset (i.e. short term versus long term), and any mortgages and liens (refi, heloc, or otherwise) would have to be paid off in full at closing if you sold the asset. 

@Jonathan Garrett Do you have assets?

Note purchased by Health Savings Account. 84 payments @ 10% $400/month.Typically we don't go down to this asset level, but buyer has skills and plan.