Then you have to take him through foreclosure, which takes time and money.b.

It may need a full rehab.

Despite my success with the property (we’re in the top 1% of homes on Airbnb), I’ve come to realize that it might be time to move on and sell.In January 2022, after some initial renovations, the house was appraised at $9M, with the land likely valued at $1.2M.

Side question: How can you help ensure a good, timely, mistake free lending process? 

A full bathroom addition can potentially boost value by up to 20%, while a half bath might add around 10.5%.

I was planning on putting aside money each month to go towards renovations each time someone moved out.

I don't necessarily have the time for a reno/flip and I'm constantly travelling.

Would a better option be to use the HELOC to purchase the short term rental in full with no mortgage?

Time and Money.

Initially, the plan in our group, was to create full floor units as they become empty, which would increase the rents (though still RS).