The other options you are playing with fire as using a HELOC that is paying interest is essentially buying with 100% financing.Having no skin in the game has always been a high risk strategy and people were able to get away with it the past few years due to the money supply and inflation but I would not use that as the measuring stick.

Carrying costs in purchase and or rehab is financed, cost of capital on refi, re-recording, title, updated insurance, etc. their are many costs at play after initial funding then to transition long term unless your straight cash on the front end.

Many jurisdictions will not record a subdivision plat until you've put in (or bonded) the infrastructure (power, sewer, water, roads, etc). 

I've played around with the idea of giving guests a YouTubeTV login but that seems risky.

I think with Boise in particular, and the pacific Northwest in general, positive cashflow is difficult to achieve, especially for an out of state investor since the market is so competitive.Even with boots on the ground, cash flowing properties seem to be a unicorn even when purchasing for 70 cents on the dollar.One opportunity for cashflow in Boise is the ADU play -- new regulations make it more conducive and returns can be 10%+ cash on cash for a property in the right neighborhood.- Kole

Let's jump right in.The Power of Short-Term Rental Tax Strategy:Short-term rentals offer a unique opportunity to offset your W2 income with real estate losses, thanks to an increasingly popular STR tax loophole.

Unfortunately it’s very probable you will be responsible for this unless there is a statute of limitations in your state which could come into play.

If you're playing Poker, and you have put a lot of chips in the pot, but your hand hasn't improved enough from all the draws, what do you do?

It will not cover foundation issues Thankfully, no EMD was used in this during this deal.If its unlike for them to sue, how does situations like this normally play out if Buyer doesnt want to terminate?

You are playing with fire with this strategy to start, but then when you count in an inexperienced rehab to rent a year later, I would earmark this for disaster.