HELOC for down payment is a good idea, if you can't fund the entire purchase price + rehab amount with the HELOC a combo of HELOC + hard money is a great way to get started.

Everyone has made great points regarding higher leverage for having the rehab budget within your loan amount but it can be done without it as well.

Don't get me started on the national debt and the amount we pay in interest each year.

The least states:"Tenant shall pay a "late charge" not in excess of five (5%) percent of the amount in arrears for each month the arrears remain unpaid if any Rent is paid more than ten (10) days after the due date thereof, to cover the extra expense involved in handling delinquent payments.

that we’ve learned in our 24 years, managing almost 700 doors across the Metro Detroit area, including almost 100 S8 leases:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+ (roughly 5% probability of default), zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680 (around 10% probability of default), some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.

If you buy less or take cash out you will pay tax on that amount. 

You’d probably end up with a bigger after tax gain if you sold the 2nd property for any amount of money and did that.

@Ketch Bays I started with the exact same amount of money.

Due to the nature of the shorter lease terms, I am spending an excessive amount of time updating my Excel spreadsheet, MLS, business website, Airbnb, VRBO, and other platforms.

I think real estate due to the amount of money you can make and how quickly you can make it attracts people who may not understand the idea of sustainability and being consistent in what you do.