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Updated about 24 hours ago on . Most recent reply

Should I consolidate debt on on a flip house to my primary residence?
I would like some advice on debt consolidation
I have two properties one is my primary residence which appraised for 143k in 2023. I’ve done a complete renovation with new paint removing musty carpet and wood panel walls and replacing it with lvp. I have added a half bath. The house is 1400 sq ft and was bought for 99k I now owe 89k on the loan. The current interest rate is 7.85%
I also have a flip house project. I bought it for 48k and have fully remodeled the interior. The remodel has cost roughly 15k in materials and holding costs and that's not counting my labor, which I would like to be paid at least 12k for. So if I want to make any money on the flip beside my labor costs, I would have to sell it for more than 75k. It appraised for 80k when I bought it but it is still in rough condition on the exterior and had some quirks So i am worried it won’t sell or that the buyer will not be able to acquire a loan. I would like it to sell for 100k but I would settle for 85k. It is in a rural area so its not exactly a hot market.( in the ozarks) rent of a relative new duplex down the street is 1100 a month, and that covers trash, internet, utilities, and groundkeeping. I owe at least 43,114.16 on it by drawing on reserves from the construction loan.
That is my sitiation. Now what I would like to ask is would it be a good move it I had to turn the flip into a rental to consolidate all the debt into my primary residence. By refinancing and taking some sort of home equity loan. Then perhaps doing an seller finance deal on the flip house or a rent to own agrement.
I know I could do a lease with an option to buy and just keep the mortage as it is.
but I also know I could do seller financing and do away with any responsibility to pay for insurance or anything like that. But I assume that would require me not having a mortage one it.
What would the pros and cons be of doing this. What are the risks?