Their income is also all self-employed and social security benefits.

We also received a $2400 security deposit.

You'll want to focus on securing a favorable financing deal at the refinance stage—ideally, you want to pull out as much of your initial investment as possible while keeping monthly payments manageable.A big consideration is understanding your after-repair value (ARV) and ensuring the rehab costs add value in proportion to that.

Also, important to confirm they will be warrantable condos for end buyers otherwise it will be very difficult for end buyers to secure financing and thus purchase the units. 

ONly money spent securing the house against waste.

Hey John, if your priority is security paying off the mortgage in 5-6 years would give you a solid $4K/month net.Alternatively, you could use the HELOC to acquire a few rentals, likely in out of state cash flow markets with strong price to rent ratio.

Purchase price: $172,000 Cash invested: $43,000 We purchased this rehabbed home and added a privacy fence, removed overhanging trees, finished the countertops, built a firepit, security system, camera's, fixed the sidewalk and turned it into an airbnb.

How could I best secure financing for the renos to get each unit up and income producing?

Inspect appliances for age and condition,and look over the flooring for any damage.For tenant considerations, evaluate the unit layout for functionality and storage, and check for safety features like smoke detectors and secure locks.

Hello Vincent and congratulations on securing your license!