Happy to answer more questions if the scenario is not clear.

Refinancing after reno's are completed with a DSCR is a common great strategy. 

A HELOC carries a higher rate over a shorter amortization usually 10 or 15 years and a mortgage carries a lower rate over a 30 year amortization offering a lower payment.You have to run the math in each scenario because the math differs based on a few things like Fico score, CLTV, Loan size, and time frame between purchase and refinance of new property.

Not always, but very common. $550  / mth * 8 unit = $4,400 * 12 mths = $ 52,800 GRI  ****not $53,800****The formula for CAP = NOI/PriceNOI = [GRI - V&C loss + OI] - EXP  *****You did not subtract for expenses to arrive at NOI nor include a vacancy and collection factor****Assuming expenses are 50% and 100% occupancy (which 100% occ is not realistic all the time).

Imagine you bought a property for $2M.The land (excluding any structures) is valued at $400K.Since land is not depreciable in the eyes of the IRS, we subtract the land value from your purchase price to get your depreciable basis.Your depreciable basis is simply where a cost seg engineer starts from when allocating your eligible assets into either 5, 7, or 15 year property.In the scenario above, your starting basis would be $1.6M since your basis = your purchase price - the land value.Having an accurate land value is essential to getting your depreciation/bonus depreciation calculations right.This is the starting point for any cost seg study that you do.

The one thing most all of them have in common is they take longer than they say lol.

If you have enough unit it will make sense to have cleaner on your payroll but to starting off, most common sense is to find a very high quality, reliable cleaner that works with your budget.

I hope all of you are starting to realize how simple the concept truly is.Get a credible website, focus on conversion (value) not rankings, and you WILL dominate your market.Now the concept is easy, yes, the application takes a bit of smarts, but as long as you have common sense... it should every doable!

How did you handle scenarios like this?

From the conferences I have attended, all I have read I think 3x rent is more common but that doesn't mean your PM is wrong.