However, the concept of a virtual office is a very useful tool that provides a professional fiscal and commercial address, as well as additional services such as mail handling, meeting rooms, and phone assistance.

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.  

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.

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 the area is good enough and you can create enough equity, it might be a better idea to take less LTV and leave more money in the deal to create some kid of cash flow. 

Had kids in school too.

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.

Tired landlords have been the sellers in most of the situations, but also kids who inherited a probate house, and don’t have the resource to fix it up.  

Feel free to share updates or ask additional questions.

Be careful about feeding additional capital into syndicates with short-term loan maturities if the only plan is to negotiate lender maturity extensions for another year.