Then you factor in the cost of the MLS, maintaining your license, E & O insurance, etc.

You gain your liquidity back, but you'll carry the note for 6 - 8 months probably, but the return here can be substantial b/c you were in under market to begin with. 

I think it would be best to pay off the credit debt and rehab the house with cash but if you want to remain more liquid it could make sense to get a HELOC.

- 10 - 12kMiscellaneous Costs - utilities, insurance, any overages - 3k - 5kBuffer of 10% reserves - 5k - 10kSo if you add all that up, you can see how you need to be 50k+ liquid to get through just a smallish deal like this.

If you’re not pressed for liquidity, I’d lean toward holding unless you find two high-cash-flow properties that clearly outperform the condo.

So we work highly strategic to liquidate at retail between yr5-7, passing the cap-x hot potato, getting the monetization of nearly new, and tapping the tail of the red-hot demand before it wains because progress moved on. 

I only have $20k of available liquid funds.

I would get the Heloc, but use it as a reserve source of liquidity.

I like that a lot .. plus building new homes has been very nice and having the cash I got from selling the homes allowed me the liquidity to get horizontal and vertical construction loans.. 

I believe conforming guidelines count 75% unless you can show Schedule E for past 2 years.