Hello All,We recently bought a new primary residence using a HELOC and we now plan on selling our former one.

Our plan is to sell or refinance within 15 months targeting a sale price of 3.5 million.This property is two blocks from the beach and has a high demand for short term rentals.

Plug in with some that way and then ask that lender for references as well.  

Also with delayed financing you can pull out your initial investment of purchase price plus closing costs, based again on appraised value as long as the LTV is supported as well. 

@Amy Lin - If it were me I would have an experienced attorney start the eviction process immediately.They are probably going to hang on as long as they can rent free as they have the closing proceeds.They might care about their credit if they do plan on buying another place, so you might have some leverage there.

Despite these, the successful sale at $392,000 highlighted the importance of strategic planning, effective project management, and strong partnerships in maximizing profitability in real estate investments with Partner Driven.

Anyway, im planning to turn the old one into a 5 bed 2 bath airbnb.

I planned on listing the property at $1,700 as that seems to be a reasonable market rate.

I plan on saving my income and applying for a FHA loan next year.

You should fare well!