I would define our group as more of West/Central ND Investor group.

Quote from @Peter Tverdov: DeathTaxesDIY Landlords on BP complaining about the costs of property management  It's not a complaint..it is an essential component of STR ROI and feasibility analysis.

Without a defined starting point and goals to work towards, you may find yourself feeling overwhelmed and directionless.

I would say it definity is a risk as you are tying up equity AND taking on an additional payment.My personal criteria to use my heloc for investments are:1.

Here are the key considerations:Pros:Potential for Profit - Through the value add component you can increase profitability on your return, typically you're buying distressed homes with built in equity, rehabbing and increasing your equitable position furthermore. 

The first thing I would ask in what you said is to define what you believe passive income to be.

For those with your permit approved in Davidson county: Are adjacent neighbors defined as sending notifications or getting signatures, from the block surroinding you?

You have to have extremely clearly defined rules and even then those are always misinterpreted.

Compile a punch list of any incomplete or unsatisfactory work, and ensure the contractor resolves all issues before making the final payment.Obtain and retain copies of all inspection reports and permits for your records.Collect warranties for any new appliances, systems, or major components that have been installed.Provide feedback to the contractor on their performance, which can be beneficial for future projects and maintaining a good relationship.

Defining your goals will help determine the best strategy and ensure it aligns with your current means and long-term plans.By taking these steps, you can balance your ambitions with your responsibilities, reducing risk while building a successful investment portfolio.