Investment Info:Condo buy & hold investment.

This could work well if you’re looking for steady monthly returns and don’t mind managing tenants (or hiring a property manager).Selling could also make sense if you’d rather use the $500,000 to diversify into other investments, like buying multiple properties or even a short-term rental on the lake as you mentioned.

As a newbie, I need someone to guide me from the beginning to try to avoid mistakes and hopefully be very successful.

My thoughts are current housing supply + high rates + high home prices in OR are restricting our options and liquidating the brokerage to pay off the townhouse = $400k asset + $2,400 cash flow that we could then use to leverage or save into buying another property outright or scale into 4 plex and use the rent to pay down that mortgage too.

Investment Info:Single-family residence buy & hold investment.

I've been pleasantly surprised to see a mix of buy and hold, flip, and ADU type opportunities surface, so I figured I'd put them out to the BP community for anyone who's in this market and feeling frustrated.

Then I think I will buy my first out of state property once I'm ready.

Use the HELOC on cash-generating opportunities like flips, then use the cash generated to buy long-term buy and hold investments. 

I think having a balanced budget would be ideal where you allocate money into buying another property and money set aside for renovations.

Which area did you buy your first property in?