First project - making a lot of mistakes

[Tommie Thomas]

Hello,

I inherited my first property, a duplex in Pittsburgh, PA. I currently live on one side of the duplex and heard a lot about the BRRR strategy on bigger pockets so I jumped right in and started gutting the other side. While gutting the property, I realized this old property built before 1915 had plaster, paneling, knob and tube wiring and even extension cords used in the electrical work. There are no liens or loans on the property, all equity. I decided to take out an HELOC to fix up the property and fund my next project. I'm having a lot of trouble trying to find a bank that will allow me to use the credit because I stripped the property down to the studs. Is this a common problem?

[Anthony Angotti]

Yikes on the electrical!

That would make it difficult. By chance is your duplex on separate parcels (Side by Side)?