I presume I have about 20% equity based on market conditions and comps, but that doesn’t leave much meat in the bone for traditional HELOC.Thank you!

Traditional bank financing with 15% down.

You will have to be approved to carry two mortgages as well from a lender if you will be doing this the traditional financing way.

I know I’ll be successful that’s not a choice, but your successful and my successful can mean two different things.When I was a child I knew that no one cares, they didn’t care then.

Property Management: Soni Rider RE/MAX Choice Rentals is doing great so far!

Property Management: Soni Rider RE/MAX Choice Rentals is doing great so far!

The main difference is that your loss is ordinary, and the most that you can deduct is $3,000.The only time where you will have to submit Form 4797 over traditional capital gain form, which is Schedule D, is when the asset was business-held.

In your situation, I'd suggest the first choice. 

It may be that a mix of companies may be a better choice for you. 

Relatively rookie investor here even though we've been renting out a home for about 10 years.  Originally this was our family home that we bought from a builder around 2005 and then took out a HELOC to do landscaping,...