Right now the market isn’t that great but I could see us looking to purchase a multifamily duplex however, in the current market, I’m finding it difficult to be able to have one tenant cover the cost for that property to break even.

They'll also be experienced in the vetting process which can be a huge help down the line.Once you have the tenants covered then you can refinance into a DSCR loan.

So could you take out the $50 you need in a term loan and also open a LOC large enough to cover any issues that arise?

With $19K invested and a $71K purchase price, your cash-on-cash return should be strong if the rental income covers expenses and leaves room for profit.

For further learning, here are some solid bookkeeping books that can enhance your knowledge:"The Book on Managing Rental Properties" by Brandon Turner – This book covers not just the property management aspect but also has sections on bookkeeping and managing finances."

I'm interested in everyone's opinions on using a HELOC to purchase turn-key rentals for the short term and covering principal paydown across all new mortgages / loans ( HELOC ) through excess income. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

Check out the BP's Real Estate Events & Happenings area as there's an event this week which will be covering the topic in Tampa, for Tampa region.

You'll generally need to do detention to offset for any impervious cover you add to the property.

We have many accounts to cover my day job, our properties and our personal finance.