We could get a new car and do something fun with the money but that would just be wasting the equity we have built up...bad idea.  

This confused me as I had not yet signed a lease with the tenant.

But also weigh the alternative of how costly the prepayment penalty is.  

Try to get tenant B to sign the lease before he gets the keys from tenant A, and try to do another quick inspection before tenant B officially moves in, which becomes the move in condition report. 

But many are changing up with the current financial ops temp. 

I'm unsure if route A) Payoff the car note, and patio with liquid.... and do a 2nd mortgage on the single family (40-50k) for the downpayment on the investment property, or B) just use the liquid to pay for the downpayment and ride out the car note and patio till when its due.Had a rough quote on the 2nd mortgage which would be 500 monthly, and I guess a follow up question would be; If going route (A) would I need to get the 2nd mortgage before or after pre-approval from the builder?

My tenant is now living there but needs to use the main house address when buying stuff from companies like Walmart, etc... since the 1/2 ADU address does not show up.

I did have it managed by a company that only does str mgt and thoroughly checked them out prior to signing with them.

If you are looking to just calculate profitability, set how much profit you want to make then:ARV - Purchase Costs - Holding Costs - Selling Costs - Desired Profit - Rehab Budget (including contingency) = Maximum Allowable OfferIF you cannot calculate those numbers, a spreadsheet isn't going to help you. 

Hi BP Community, I am currently in the process of setting up SDIRA with Check book control to do my flips.