Best to call city hall for the town you are buying in to see what if any rent control rules are in place. see link below if you require additional information and call the Jersey City Landlord Tenant relations office. https://www.jerseycitynj.gov/cityhall/HousingAndDevelopment/...Jersey City CPI chart on recommended rent increases: https://cdnsm5-hosted.civiclive.com/UserFiles/Servers/Server...The state with the highest eviction rate in the country right now is South Carolina. 

Might be an additional cost there.If units are updated, capex items look good, leases and tenants look solid, and there are no other regular expenses besides the 5200 in insurance/property taxes then I like this deal.  

You want to make this clear that additional items need to be purchased by the guests so they are aware.

Man, just in 3 years if you have the tenant leave every time, even without the negative cashflow, that alone can cost you an additional 20 or 30k.

If you used a loan to rehab your property and find yourself in a difficult position, doing a straight refi (just paying off the old mortgage) will be easier than trying to pay off the original loan and take additional cash out.

The plan is to use the heloc to purchase additional properties, and basically brrrr and pay back the balance - then repeat.What I didn't realize is how difficult it is to find a business heloc.  

An emergency fund needs to be liquid, and immediately available to you in addition to being low risk and protecting principle. 

In addition to being my mentor, Chris had been asked to take the class on a “funding tour”.

With some additions, this would qualify for the OMG category, but I think they didn't have that category back then when it was on the market.

Its more like 98/2 with an additional 5% saying they do stuff so they can get a piece of someone else's hard work while they have not done anything and live in their mom's basement.All that said there is value well over the cost for those who apply themselves to deriving the value.