But, keep in mind Redfin assumes the amount you put down, the interest rate you get and a couple of other charges.

The Milwaukee Mill Rate for 2023 was $26.07 per $1,000 of assessed value (2.6%).

However, with the rise in interest rates, I am fairly certain that a threshold ratio of 1 will not be met. 

We do our daily rate and then give about 20 to 30% discount for renting a month at a time.

I would just renew at the same rate if you have concerns.

Hi Rob,If you believe the HELOC will be sufficient for the purchase & rehab, it could make sense to use the HELOC given the interest rate is lower than a hard money. 

One thing to also consider is if the kids take it over will they jack up the rent to market rate?

If possible I would want the amortization over 25-30 years.I know cash out refi is quite expensive with the origination fee and everything, early pay off could cost too or drive the rate up.

While I have some basic knowledge, any advice or tips for the purchase process would be greatly appreciated.Asking price: $460,000Mortgage Type: FHA / Fixed Rate / 30 Years / 3.5%Unit 1: Primary ($1700)Unit 2: Tenant ($2000)

One possible answer is no extra rate increase  but better occupancy numbers.