Run the math so you’re clear on cash flow after expenses, not just the purchase price.I’d also suggest checking rental demand in the neighborhood talk to local property managers, look at vacancy rates, and drive the area at different times of day.

I thought I'd do the math for you so you would see it for yourself.

Your primary trade-off is now clear:Access Equity Now: Accept the $1,400/yr tax increase and the other tax consequences (like your dad's depreciation recapture bill) to get the DSCR loan now.Maximize Future Wealth: Leave the property in your dad's name, avoid the tax hike, and preserve the massive benefit of a stepped-up basis upon inheritance.The other tax questions (gift tax, depreciation, etc.) are important, but they are secondary to this fundamental Prop 19 reality.My immediate advice is to model whether the deal still makes financial sense with the higher property tax expense.

Your lender only gets paid when he gets you to execute the refi, so he is highly incentivized to convince you now is a good time to refi.If the math says not to do it, I wouldn't do it. 

I think a GOOD realtor who helps their clients buy rental property real estate should always help run the math with them. 

I’d love to hear real experiences from the community.Here in Canada we have virtually no secondary note market so I have to create my own by selling on terms.Once set up, yeah it's about as passive as real estate gets.

The majority HELOC's on investment properties, including the sponsor of this forum, sell their loan into securitization pools into the secondary market.

Traditionally, they are for properties that need renovation, with 6 to 24-month terms, primarily based on the property and the ARV, with a secondary focus on borrower qualifications.Some argue that hard money lenders are licensed professionals, while private money lenders are like your mom or dentist who lend their own money.

Here's some math: if we have a property with an income of $1.2 million, and we subtract 50% for expenses (because, hey, life happens), we're left with $600K in net operating income (NOI).

Many builders are also able to offer incentives that are not available on the secondary market. the Charlotte market is a fantastic place to invest.