Hello, I want to use my equity in one of my SFRs to purchase a short-term rental (I currently have 8 LTR) .

The contracts all end at different times over the next four months.2. 

Good afternoon and thanks for reading,I have the opportunity to purchase my neighbor’s house (4 bed/4bath/2 kitchens on 3.28 acres of timberland adjacent to prime BLM hunting grounds) in Walton, OR (about 40 miles outside of Eugene) and I need advice on securing capital for the rehab budget of approximately $80k-120k.Purchase price offered to me is $300k with a $50k downpayment and 5% interest with monthly payments and a 1-5 year term. 

Typically when you sell the title company requires forms to state if you are foreign or not, your ID, and they want to send 15% or 10% or (20% for long term) to the IRS at closing.

Offer the seller a first lien on your town house of say $300k, and a short term first lien on his house of $300k.  

Just make sure to shop around for good DSCR lenders and crunch the numbers to ensure it makes financial sense long-term.

Jessica - Instead of focusing on the checking account I would focus on a bank that you would like to work with for loans, lines of credit, and other long-term borrowing needs.

In my opinion the best use of a HELOC is for short term needs like a credit card.

I haven't done a deep analysis on Cleveland, Montgomery or Buffalo, but I would think they likely qualify at least for the type of long term, cash flow investing we aim to do. 

Have you ever considered renting it our (or part of it...) our as a short term rental?