If your rents are strong and the Loan Officer calculated your rental income well, you should not have an issue qualifying for a HELOC on a primary. 

What will it do to your investment plan?

I recently moved to Montclair near the Watchung Plaza and know that area very well.

@Peter, @Bill B.laid out the gain calculations very well. 

@Jason Babos As long as you plan to use a property management company and the numbers on the deal pencil, I don't think it's too much to handle for a first deal. 

What is your 1,3,5 year plan? 

Hello, I live in California Sacramento, recently bought a primary house which I plan to do house hacking.

Long-term goals, networking, and a solid financial plan are essential.Good luck!

If they are showing you multiple homes, consider their time as well, and their desire to be compensated because it is their business too.In San Antonio, I pay an annual and quarterly fee for MLS access.I wish you all the best.

made an offer on a property only to find out later that one of the units was going through an eviction.tried to extend our inspection contingency to no avail to buy us some timeended up not being able to come to terms on how to proceed with sellerthe last HOUR of our inspection contingency the seller offers to try and buy out (cash for keys) the tenant the next day (he had a property manager handling the eviction and wasn't even aware of it initially).i get a (risky) oral agreement that even though the contingency window had passed, if the plan falls through my client will still get their EMD back the next day the seller ends up buying out the tenant for a bit over $3,000 and now we can move forward with the deal without the headache of a problem teanant/ picking up an eviction.