Good afternoon. I'm seeking guidance regarding my initial rental property, which requires significant repairs. Three years ago, my wife and I purchased a duplex with a 3.25% interest rate. Presently, we reside on the ...

Modern kitchens require 8 separate circuits minimum.Using licensed Contractors also I would assume?

Or $2000 for a separate basement if you're short-term renting it on Airbnb.I'm not saying buy anything, but find a solid home in a solid location and buy it.

Having a separate bank account in the LLC makes sense to keep track of expenses and income from business activity IMHO, and is something we generally prescribe to clients. 

Built up from the tenant's rent payments (and using that money to pay the mortgage), built up through appreciation (in which case all that equity is the same for everyone), or buy you buying it (moving cash from your bank to the house)...which isn't gaining anything. 

I have heard on several separate occasions about the idea of “borrowing against an IRA” to build funds for investing, but am unable to find any more information about this when I search for it.

I can't manipulate the numbers correctly to show that the loan began in 2020.The current tenants are moving out this month which is what is prompting our decision to either sell or keep renting.

I move away from it.

If the behavior repeats within several months, I would move to evict. 

Presumably the tenants payments would allow you to save a chunk towards the second tranche, if you will and you have that time to earn, borrow, etc. more cash separately. 6% is a very good rate right now so I’d sweeten the deal with a pre-payment penalty, say 3 years?