I am interested in a buying a second property but do not have the proper funds. Should I pull the money out of my first property?

Pulling money out of a property is generally useful, as long as the new mortgage payment won't put you underwater

What are the advantages of HELOC compared to conventional loan?

Depends, will it cash flow when you do?

If you do a cash-out refinance you will most likely have rates of 6% and a mortgage on your paid off property. Another thing to consider would be a HELOC and only get charged interest on the amount of cash you withdraw instead of the entire amount.

Michael, can it be done? YES You need to ask yourself, what can I do with this $ that will yield a higher return than my interest rate? (or do you just need it, because life happens)

Get a HELOC on the first property and use it just in case.

Should I finance a home I paid cash for in 2022?Should I finance a home I paid cash for in 2022?

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Should I finance a home I paid cash for in 2022?

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