When to use a HELOC or cash-out refiUse equity after you prove to yourself that you can operate rentals well.A HELOC should be used as:A bridge tool, not long-term capitalA way to avoid being cash-poor during rehabA buffer for emergenciesOnce you’ve done 1–2 deals and feel comfortable underwriting and managing risk, then you can use HELOC funds to accelerate.But leveraging heavily too early is how good investors become stressed investors.If I were in your shoes, here’s the exact sequence I’d follow:Use the $100K to buy a simple, cash-flowing out-of-state rental or light BRRRR.Get that first property stabilized.Evaluate your comfort level and skill after 6–12 months.Then consider a small HELOC to scale into your second and third properties.This path lets you grow safely, gain real experience, and protect the home that gives you the strongest financial foundation.

Or continue this course where you are stressing over this.

We could absorb huge revenue decreases on the STRs.By 2012, we started purchasing at a discount.  

From a tax standpoint, being more involved can also help with tracking expenses cleanly and, in some cases, material participation if that ever becomes relevant to your broader strategy.Using a property manager makes sense if it’s buying you back time and reducing stress, especially if you have a demanding W-2 or live far away.

I’d also add that your early days as a first time buyer are a bit stressful because you don’t know who to call for various issues that may pop up with the property.

When you requested to stop the process, your file was formally withdrawn, which resulted in a denial notification reflecting that status.We understand this was a stressful situation and regret that the loan option available did not meet your needs.

If what you are predicting with interest rates decreasing going forward that could play into my plan of selling with a 1031 Exchange in the beginning of 2027. 

Not repairing anything, which is deferred repairs and CapEx stuff decrease your property value and low rents due as well.

It is finishing the deal without stress.

Performance often varies dramatically by township due to STR regulations, enforcement, and permitting requirements.Another area to stress-test is seasonality.