We also have zero RE investing experience, so we would be also be the much safer and easier option than having to manage a long-term rental. 

CPA/client relationship is definitely is something that needs careful consideration because want to find something that is the best fit for you in terms of risk tolerance level as well as budget.I just helped BP actually build out a CPA finder page so if you are still looking, check out that page to see service providers that have experience in working with RE investors https://www.biggerpockets.com/business/finder/tax-and-financ...

Luxora and her counterparts are trailblazing a path towards a more personalized and efficient homebuying experience, all while ensuring that human wisdom remains the cornerstone of every transaction.

In addition, you'll have 16 months of land-lording experience as opposed to none if you wait 32 months.

These lines of credit generally have 1-2 year renewal periods and require you to send the bank your tax returns and possibly personal financial statement on an annual basis.In my experience "HELOCs" are associated with your primary residence. 

But in my experience, the disclosure form is provided after escrow is opened.So figure $10k for roof (might be some bad wood).

Nobody has a crystal ball to predict the future but, generally, rates will likely go down, property will appreciate and rent's will increase.Getting experience as a landlord is valuable too...

I wanted to get any opinions or insight from members here and if they have any experience dealing with this area, thank you.  

Here are some considerations for each option:Option 1: Using the HELOC for a down payment and renovation on a second property to rent:Pros:You can leverage your existing property to acquire another investment property without selling your current home.Rental properties can provide a steady income stream and potential long-term appreciation.You can use the HELOC funds for renovation, which can increase the property value and rental income.Cons:You'll have to manage the property yourself or hire a property manager, which can be time-consuming and add to your expenses.There is a risk of vacancies or unexpected maintenance costs, which could impact your cash flow.You'll have to pay back the HELOC, which will increase your monthly expenses.Option 2: Building a new house in a new community and selling it for a profit:Pros:You can potentially make a significant profit if the market is favorable and the property value increases during the construction period.Building a new house allows you to customize the property and potentially attract more buyers or higher rents.Cons:This strategy involves a higher level of risk, as you're betting on the market to appreciate in a relatively short period.There are many unknowns and potential delays in the construction process, which could impact your timeline and profitability.You'll need to have a good understanding of the local real estate market and construction costs to ensure that your project is profitable.Before choosing either of these strategies, consider the following:Research the local market conditions in Chandler, Arizona, to understand the current demand for rental properties and new construction homes.Consult with a real estate agent or investment advisor who has experience in the local market to get their insights on the best strategy for your situation.Evaluate your financial situation, including your income, expenses, and risk tolerance, to determine if either strategy aligns with your goals and financial capacity.Consider the tax implications of each option, as this can impact your overall profitability.Create a detailed financial plan for each option, including projected income, expenses, and potential risks, to help you make an informed decision.Ultimately, the best strategy for you will depend on your unique situation and goals.

Hey BP community, has anyone have experience with Investor's lift that would be willing to meet for virtual coffee?