If you are going to pull a HELOC I would target a BRRR or flip so you can for sure pay the HELOC back.

New Jersey is not a horrible state for investing it is more so certain towns and cities that give NJ a very bad name. 

This could result in a bad tenant and thousands of dollars lost via eviction.It's better to have a vacancy than a bad tenant.

They may have a challenging time finding a buyer with a lender that can finance this property. 

I could quickly determine if I wanted to offer a discount or not.What I don't like is Pricelabs can swing pricing for certain nights by over $200 overnight.

If you're located in WI, check out Premier Point Realty and Homestead Realty....both offer the licensing course at a discount and some of the lowest fees/commission splits in our local market.

Having a big why. 

He just hosted a get-together - a Family Reunion - where we took a deep dive into various aspects of BRRRR, how to source deals and a look at how he is rehabbing the hotel we were at that he owns.

Because I was so annoyed with RentRedi on this I just told my tenants I would discount their rent by $1 every month.

Definitely get a specialist out to inspect.