Both of our properties have about 100k in equity in them so we were thinking about using getting a HELOC on the duplex rental property and use that money for the down payment on the next property.

You’ll lose any property tax caps they may have enjoyed and be increased to the non-owner occupant tax. 

Got $16k in 1st time home buyer grants for the down payment & closing costs....$8.5k from Obama who was trying to stop the bleeding on the housing crisis and another $8.5k from the city who was doing the same.

S8 will include utilities in the rent payments to the landlord, BUT ONLY UP TO A CERTAIN AMOUNT.

Or you could pay cash now and refi later.

Obviously cash flow would be wonderful, but not necessarily needed.

Yes but depending on the loan type they may want to understand what that payment is.

They are usually looking at C or D properties that local agents tell them will “cash flow“ They usually don’t cash flow because of high maintenance and vacancy.

Purchase price: $282,000 Cash invested: $120,000 STR buy and hold with renovation for value add.

Purchase price: $184,000 Cash invested: $92,000 This is an international investment in Split, Croatia NOT Santa Barbara, California.